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I'm trying to understand how/why a bunch of expenses I manually entered and categorized as "Owner's Contribution" have now been removed from my Expenses and rolled up into something called a monthly "Journal Entry"? What's worse, all of the receipts I uploaded seem to be gone. This is definitely troubling as all of these represent what I've paid for my business out of my own pocket, and I'm trying to keep meticulous track!
I know how this situation impacts your business operation, especially in finances, insignia300. I'll give you further information about your expenses that have been removed from the owner's contribution.
In QuickBooks Online (QBO), the owner's contribution expense account is typically used to record capital contributions made by the business owners to the company. When an expense is recorded to this account, it increases the equity on the balance sheet rather than impacting expenses on the income statement.
If someone is meddling with your Audit log, I suggest confirming what specific action should you take either to show deleted journal entries, recreate expenses, or re-enter expenses to utilize the Audit Log report to review the changes.
I'll show you how:
But if not, I recommend contacting our support team for further investigation.
You can visit this article for the schedule details of our support: QuickBooks Online Support.
Moreover, you might find it helpful to check out these articles to get more information about recording, editing, and deleting expenses:
Please know that the Community team is always here for you. You can always post other questions running and personalizing reports in QuickBooks. We're here to provide the best assistance needed.
Are you saying that you didn't use a journal entry to enter the expenses and corresponding increase in equity? The screenshots you provided are perfectly acceptable for entering expenses that you paid for personally.
"When an expense is recorded to this account, it increases the equity on the balance sheet rather than impacting expenses on the income statement."
Yikes. It's clear you don't understand accounting. If you're not 100% sure of your accounting knowledge, why confuse your customer? When an expense is recorded to Owner's Equity, it increases both the equity on the balance sheet as well as expenses on the income statement, which is what you want.
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