Personal Loan , accural basis. I notice my CPA did something strange but not sure if this is the proper way to do it. In 2012 in december I had a large of charges for my business, but I did not use my business credit card to pay off the balance until Jan 8. Since I am on accrual,
I already took the deduction in 2012 as a business expense deduction. This year, she reclassified those expenses from 2012, but paid in 2013 on my balance sheet as personal loan from shareholder. Any reason for that and is this the proper way to do it? |