how to enter payment of bill paid with personal funds

orcowgirl · ‎01-01-2019

Using QB Desktop 2017 - how do I enter a bill on a PO for inventory that was paid with personal funds?

Rustler · ‎01-01-2019

enter the bill as you would any other time

there are several ways to pay with personal funds, assuming your are taxed as a sole proprietor or partnership, I prefer

create a cash type bank account called owners

pay the bill using that owners bank account

then make a deposit in the owners bank account for that same amount and use the owner equity investment account as the source account for the deposit

Rustler · ‎01-01-2019

enter the bill as you would any other time

there are several ways to pay with personal funds, assuming your are taxed as a sole proprietor or partnership, I prefer

create a cash type bank account called owners

pay the bill using that owners bank account

then make a deposit in the owners bank account for that same amount and use the owner equity investment account as the source account for the deposit

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