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qwerty54321
Level 2

Hi All I want to introduce capital into my company. The income will be in the form of purchased items (Car tax etc) paid by me directly and not through my business accts?

 
1 Comment 1
JonpriL
Moderator

Hi All I want to introduce capital into my company. The income will be in the form of purchased items (Car tax etc) paid by me directly and not through my business accts?

Hi there, @qwerty54321!

 

You can create a journal entry to record the purchase you made.

  1. Go to the + New button.
  2. Under OTHER, select Journal entry.
  3. On the first line, select the expense account of the purchase you made
  4. Enter the amount of purchase under the Debits column.
  5. On the second line, select the Partner's equity or Owner's equity account.
  6. Enter the amount under the Credits column.
  7. Click Save and close.

From here, you can create a check to put back the money into your personal account.

  1. Go to the + New button.
  2. Under VENDOR, select Check.
  3. Select your bank account used to reimburse the personal funds.
  4. On the Category column, select the Partner's equity or Owner's equity account.
  5. Enter the amount to reimburse.
  6. Select Save and close.

In addition, here's an article you can read to learn more about how to record business expenses you made with personal funds: Pay for business expenses with personal funds.

 

Lastly, I've got you these articles to help manage your accounts: Help Articles for QuickBooks Online.

 

If there's anything else that I can help you with, let me know in the comments. I'll be here to help.