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Changed farm to an LLC, need help moving loans

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February 01, 2009 03:33PM
We changed our farm to an LLC a while back. Now we have three projects, the LLC project and two owners project's. I set everything up for the owners from scratch and added on the loans that were transferred over from the LLC. How do I get rid of the loans that still show up on the LLC project even though they are now part of the individual owner's project, not the LLC? Is there an entry I can make to make the loan balance zero without affecting actual cash? All payments are made on the loans from the owners not the LLC so I just have these extra loan balances hanging out there.

Thanks,
Scott (OSU)
SubjectAuthorPosted

Changed farm to an LLC, need help moving loans

Scott (OSU)February 01, 2009 03:33PM

Re: Changed farm to an LLC, need help moving loans

Deb HurrawFebruary 02, 2009 12:04PM

Re: Changed farm to an LLC, need help moving loans

Scott (OSU)February 02, 2009 08:13PM



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