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joshuatoon21
Level 1

Offsetting cash flow amount for accurate reporting

Hi, I am putting together our Quickbooks for my small business and had a few questions, specifically about reporting. For context, I started running the business out of my personal bank account as we were starting our online store, and eventually migrated into our own business bank accounts which is where all expenses are running through now.

 

Everything seems to be working, but I was wondering if there is a way to offset my cashflow to change how it is being presented over time? I opened my business bank accounts by transferring money from my personal over into them for that amount of time, but obviously I still had money in my personal accounts and those are hooked up to Quickbooks, causing the balance to start higher due to what the starting amount of those accounts are. I've attached a screenshot. Ideally, if I can change something within those personal accounts to more accurately reflect how my business is actually performing that'd be great.

 

I realize that we would be negative in the cash flow if the $6,837 figure were set to 0 hypothetically, but that would more accurately reflect where we are at.

1 Comment 1
RenjolynC
QuickBooks Team

Offsetting cash flow amount for accurate reporting

Hello there, joshuatoon21.

 

To offset the expenses taken from the personal funds, you can record a check or expense. I've got this article that includes a video tutorial: Pay for business expenses with personal funds.

 

I'd also recommend reaching out with your accountant to make sure that your financial reports are accurate.

 

Please feel free to add a comment on this thread if you have any additional questions. Thanks.

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