Hey Everyone,
I have a question that has probably been asked a few times. However I can't find an answer that really fits my situation.
I opened a business, and used my personal account to start with, until I was able to raise some money strictly for the company.
My QBO has my business account, and my personal account linked to it.
I am trying to reconcile my accounts, and of course all the non-business purchases are getting in the way. I read the best way to handle this is to make an Equity account called "Owner's Draw", then expense them to that account.
My problem is that doing it that way will show that business lent me money. When in reality, it's the opposite. Will this cause problems for me in the future?
My company is incorporated, and I want to make sure I don't "pierce the vale". So I want to fix this mistake in the best way possible.
any ideas?
