What do I mark personal payments for stuff in quickbooks?

Re: What do I mark personal payments for stuff in quickbooks?

An investiment it's NOt. If you have a 'sole prop' you can either mark it as a 'loan' technically speaking because a sole prop is your money anyway. Any Revene that comes
in is yours or what you can do is just make an entry 'paid rent with credit card' or take an
cash advance and deposit the money into the bank and do a regular entry.

If you have a corp - your are loaning the corp this money - make sure it is marked as a loan, then you can reimburse yourself. A partnership is done basically the same way as a corp.

Re: What do I mark personal payments for stuff in quickbooks?

Petty cash payment

Re: What do I mark personal payments for stuff in quickbooks?

I usually don't go against too many people specially with a backgroung in acctg, but the petty cash was is not the way to go - petty cash is just that 'small' amounts to pay postage, and the like.

Treat is a a loan with the appropriate entires and if your a sole prop, just deposit the money as non revenue and pay the rent - rent exp/cash.

Re: What do I mark personal payments for stuff in quickbooks?

Thanks for your post Senior I was wondering the same thing and I am glad this forum has someone with some financial experience

Re: What do I mark personal payments for stuff in quickbooks?

sorry about that guys' I misunderstood the question.