cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

Company expenses paying with my own money

Hello, I just started a new company and the company doesn't have money to paid for the expenses at the moment. I am currently using my own money to pay the expenses of the company . How should I record in QB the money that the company own to me?

2 Comments
Highlighted
Level 9

Company expenses paying with my own money

Create a journal entry, one side to the expense and the other to Owner Equity (Contributed Capital)

Highlighted
QuickBooks Team

Company expenses paying with my own money


Hello @shan521,

 

Welcome to the Community. I'd like to begin by congratulating you on starting a new company.  

 

As @Regina_Lend_A_Hand_Accounting mentioned, it's generally recommended to record company expenses paid for with personal funds using a journal entry and tracking it with an equity account. I'm including an article that guides QuickBooks Online users through the process of creating the journal entry, as well as the steps for reimbursement: How to Pay for Business Expenses with Personal Funds.

 

Additionally, as you're starting a new company, I want to ensure that you're getting the most out of your QuickBooks Online account for your business and am including the link to tutorials: QuickBooks Tutorials.

 

I'm confident that these resources will help you with recording your money that was used to pay the expenses of the company and that's now owed to you. 

 

Wishing you the best of luck on the journey of starting a new company and embodying the entrepreneurial spirit. Have a lovely week ahead. 
 

Need to get in touch?

Contact us