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Community Explorer **

Can someone please tell me how I can record cash expenses as owners contribution? I'm using QB online. Thx!

 
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Established Community Backer ***

Re: Can someone please tell me how I can record cash expenses as owners contribution? I'm using QB online. Thx!

Is it an Expense or are you putting Cash into Equity?

 

If you buy something with your Cash that is an Expense to the company, then just enter in the Expense and take the Cash (Reimbursement).

 

If you are putting Cash into the Company, then you're putting in Equity.  So if you don't have an Equity Acct that's called something like Owner's Investment, then create it.  The when you record the Cash deposit put it against the Owner's Investment Acct.

 

Community Explorer **

Re: Can someone please tell me how I can record cash expenses as owners contribution? I'm using QB online. Thx!

It is an Expense. Owner keeps paying for things with cash.  Someone said to record it as owners contribution. How do I do that?

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