Good afternoon, @johnsl. 

Thanks for reaching back out to the Community. I'm so glad you gave us some additional information about your question. 

With the questions you're asking, an accounting professional would be the best person to consult with about this subject. An accountant will be able to give you advice that's helpful for your business. If you don't have one, no worries. Here's a link so you can find one near you: Find ProAdvisor. 

Since this was your first post/thread in the Community, cruise on over to our tutorials page to see more details about your QuickBooks Online account that will help you in the future. 

I hope this helps. Let me know what your accountant says. Should you need any further assistance, feel free to ask. I'm only a post away if you need me. Wishing you and your business continued success.