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Mark Biddle
Level 1

How to post money that is recieved but is not taxable

Disability income that is not taxable  how do i post it  yet still have it as icome toewards initail opening balances equity 

 

1 Comment 1
BigRedConsulting
Community Champion

How to post money that is recieved but is not taxable

Use a balance sheet account and not in income/expense account.

 

For example, if you're the owner and you're putting money into the company, use an Owner's Equity account.

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