Step 4. Setup "Other Income and Expense" type accounts to capture your gain / loss on investments. Enter the cash and property. To keep things simple, named this something applicable like Bad Debt or Debt Write-Offs. Answer (1 of 2): You can do it through a journal entry. Step 2: Have Your Employees Set Up Their Account Via Email. Rather than being charged a monthly interest fee, there is a one time up-front fixed fee. His capital balance was $6K at the time. Jack did not lend any money to the S corporation, and therefore, has no loan basis. Next, click New in the upper-right corner. You will reduce the old member capital account by the $60,000 and do this on the other increase of decrease line of Schedule K-1 Line L. You will then add this to your capital account on the same line. Take the total Class A common shares outstanding of 2.38 billion and multiply them by $0.000006 par value per share. The QuickBooks program will automatically create the "Owner's Capital" account for you. It may be called "Owner's Equity." Gather all documents and details regarding the initial investment in the business. You can nest these all under Owner Equity, to see the company picture at a glance if you wish. Create an account for Owners Contribution under Capital Accounts head. Click on the "Owner's Equity" account in the first row of the first column. So you won't have to repeat it. An LLC member is bought out of a 3 member LLC for $18K. This way, they can begin reviewing their W At the upper side of the page, you need to press to New option.