Financial Software Questions? Ask IT Support for Answers ASAP
Welcome and thanks for your question!
For the liabilities, you will want to select the tax line "B/S-Liabs/Eq: Other Current Liabilities"
Ok - for the others - I selected wages and taxes subcategories under payroll expenses - would that be correct for them?
That would be correct.
Thank you! What about dividends? Sorry for all the questions - I assumed Quickbooks would have assigned these categories but assumed wrong.
Yes, dividends company paid out
And your company is a C Corporation, correct?
If it is a C Corp, they would go to line Schedule M-2, Cash Distributions
It is an S corporation -
If it is an S corp, then it would be Schedule K -Other Items, Prop Distr (incl cash)