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tonjunee
March 24, 2020
Question

Can accounts payable become long term loans?

  • March 24, 2020
  • 1 reply
  • 0 views

I'm using "Accounts Payable, Due to Owner" to pay for bills in QBO.

I'm not sure how to pay for those Accounts Payable. I've been paying other venders instead of the owner.

 

What happens when if the Accounts Payable goes past a year in the books? Does it convert into a long term loan?

1 reply

A
AndréB12
Level 1
March 24, 2020

Hey tonjunee,

 

It's great to see you're using the full potential of QuickBooks Online's powerful Accounts Payable tracking. Each bill or payment you record is tracked individually to unlock insight into its aging. Since this is automatically accounted for as time passes, amounts will remain in your Accounts Payable unless manually transferred out. 

 

Hope this helps!

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