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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 581
Experience:  10 years experience
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I am a C corp. and want to know on a cash distribution for

Customer Question

I am a C corp. and want to know on a cash
distribution for reimbursement to the owner is there
a form that needs to be filled out or how do I ear mark
the cash disbursement as an expense instead of
income to myself, the owner?
Submitted: 6 months ago.
Category: Tax
Expert:  ABC Accounting Group replied 6 months ago.

If you have an Accounts Payable department, I would give in the documentation of what you need reimbursed, along with a Reimbursement form. to them. If you have a board, a board member or an officer of the corporation could sign off on the reimbursement. The Accounts Payable Dept would debit the expense and credit their accounts payable, when the reimbursement form is received and credit cash/debit accounts payable, when the check is prepared. Best Regards.