cancel
Showing results for 
Search instead for 
Did you mean: 
wood-samuelt
Level 1

Should i put all my partners business expenses paid by cash or his personal card to a owners contribution account? I dont want to have to move money between his accounts

 
1 Comment 1
Kass_B - Product Champion
Content Creator

Should i put all my partners business expenses paid by cash or his personal card to a owners contribution account? I dont want to have to move money between his accounts

Hi wood-samuelt,

 

An Owner's Equity > Partner Contributions account is used to track amounts partners contribute to the partnership during the year. If you are unsure whether to use this account or a different type, you can refer here for a detailed breakdown on the available Account and Detail types in QuickBooks Online. This glossary shows all the different combinations you can choose from to give you the best idea as to where these expenses should be recorded. As we're not accountants, we aren't able to advise which account you should be using specific to your books, however your accountant or bookkeeper will be able to assist in this area if required.

 

 

-Kass