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G
GS1
Level 3
January 29, 2025

Entering Loan in S-Corp

  • January 29, 2025
  • 1 reply
  • 6 views

A customer gives my client (with S-Corp filing) a check of $300,000 for a construction project and a promissory note of $100,000 as a loan. Total check of $400,000 was deposited in the S-Corp
How to enter this loan accurately.


    1 reply

    IRonMaN
    IRonMaN
    Level 15
    January 29, 2025

    Note payable.

    No

    No

    Unless there is more to the story than you are sharing.

    Slava Ukraini!
      G
      GS1Author
      Level 3
      January 29, 2025

      Thanks IRonManN,

      No, nothing more to the story.
      It's a new S-Corp. And like you, "note payable" what I told the client.

      Thanks

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