USA S Corporation


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There are two owners of an S corporation. They each purchase personal items through the corporation that are not business expenses. I can't use a Draw nor Shareholder Distribution account to capture this information. What account can I set up to capture this information?
 
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Why cant you?
Make a due to shareholder account for each of them then.
 
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Joined
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There are two owners of an S corporation. They each purchase personal items through the corporation that are not business expenses. I can't use a Draw nor Shareholder Distribution account to capture this information. What account can I set up to capture this information?
Why cant you?
Make a due to shareholder account for each of them then.
Thank you very much for the idea.
 
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What are you trying to capture? The amount they owe back to the corporation?
No, the shareholders will not owe these amounts back to the corporation. I am not sure how to post them because they are not expenses to corporation. I am trying to capture the amounts that are spent on personal items, paid by the S corporation, so that at the end of the year when it comes time for the shareholder distribution these numbers can be taken into consideration.
 
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I'd just do an accrual then...and then at distribution date just reclass the accrual back against the distribution
 

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