QuickBooks Online: Entering Expenses paid in CASH (or with owner’s personal account)

[@meyrodrigueskelly8609]

Hector, I came just to say, you are awesome. You covered all my questions about this subject. You are a great teacher because you keeping simple, clear and cover all points. Congrats! Thank you for sharing.

[@HectorGarciaCPA]

Thanks :)

[@juneesjournal34]

Wow. easier to understand. thanks for this.

[@ashiqlhr]

Excellent

[@angelrodriguez352]

Hey Hector, great video! I do though have a question. If a owner takes an owners draw but then uses those funds to pay for business expenses, should they credit their owners contribution since they used the money to pay for business expenses or would it be better to have the business reimburse them for paying the bills?

[@HectorGarciaCPA]

Yes… or use the petty cash account

[@joanscherman9882]

I forgot to sat thank you for your videos. They're terrific -- even if I do have to play them over and over to absorb all of the information you are so generously providing. :)

[@HectorGarciaCPA]

:)

[@BuddyQuaid]

You're very good. This should have been two videos. By the time I got to the personal expense from another credit card my brain was frying.

[@HectorGarciaCPA]

I know... sorry

[@kristikilburn6386]

Hector, how would I reimburse myself as the owner if I paid with a credit card or my personal banking funds? For example I purchased several items for the business before I had a company card and I don’t want to keep that as an investment, but I rather I need the company to write me a check back for the money I spent.

[@SelfieKinglol]

Same question. I been making deposits from my savings account to my business account to pay for insurance and business cards. How do I get that $ back to me

[@Expertinexcel1]

First you need to increase owners equity in credit side and cash in debit side. Now you need to buy through cash payment. Once you add the company card, just transfer money from bank to your owner's equity.

[@carlavidela4743]

Hi, here we use owners contrib and owners distrib. Soo be can trace the payments we have to reimburse the owners, and can tell just by seen the balance of the 2 accounts.

[@ivan33776]

What I did in this situation: recorded expenses as usual, but instead of specifying checking or CC account as "paid from" (as i didn't have them at that time), I specified "Due to shareholder" (current liability) account which is basically what company owes to the shareholder. Now I can do a transfer from the company bank to the shareholder's bank as a debt payment

[@flormedrano7342]

Hi Hector, Thank you for a great explanation. What if the owner used his personal account to run the business for 6 months and then switch to a business account. How would you process those entries? Add the personal account as a customer and vendor too?

[@HectorGarciaCPA]

Yes I would. The personal account could be the petty cash account or the equity account. The people/businesses you pay, those would be vendors

[@marvelouss719]

@@HectorGarciaCPA Business owners need to hire a bookkeeper or accountant to do their accounting. Unfortunately some business owners think accounting is simple and they know what they are doing.

[@SelfieKinglol]

Great video!! I have a question..since I just start my company, I been making deposits from my savings account to my business account to pay for insurance and business cards. How do I get that $ back to me??.I hope you can answer. Thanks

[@othnielmaidaniuc1786]

I likewise have the same question... for personal funds use that you want to be reimbursed... ie a payable to myself.

[@andymarkus3840]

@@othnielmaidaniuc1786 would love an answer to this as well

[@AhmedMTaher]

I got question sir , what if we have a company and we are two accountant one of us would record the transactions for the current financial Year and the other for the previous years that we haven't record before ... Is it possible to work with two periods in the same account ??

[@graceheavens584]

I have been watching your videos quite recent in 2023 and i must say they've really been helpful in my Quickbook journey. Thank you so much Mr Hector... your unique voice even makes the experience worth the while

[@HectorGarciaCPA]

Great

[@liseellsworth7295]

Wow! So helpful! And covered EVERYTHING I've been struggling with. I just signed up for QB and wish I had seen this so I could have gotten the better discount. Oh well. Anyway, I see above that many users have co-mingled their personal/business accounts and it gets confusing. My boyfriend did that and because he doesn't yet have a business checking, I've put ALL personal expenses in Other Miscellaneous Expenses and tagged them for what they were. Should those be put elsewhere so they don't show up on P/L and balance sheet? Where's the video you made on how to categorize business equipment (either as an expense or as an asset)? Thank you so much for your amazing videos!

[@alinabolshakova9308]

I need to know this as well

[@cwmaci]

I always go to you first for all questions! I love how you explain. Follow up question... What if the owner pays with a personal credit card and you need to log the expense to the vendor AND repay the PERSONAL owner's credit card?

[@HectorGarciaCPA]

Enter the credit card and just enter the business expenses.. you won’t reconcile it at zero once it’s paid off

[@marib6030]

@@HectorGarciaCPA Hi Hector, can you please explain this process a little bit more. This is my exact situation and don't understand how to "enter the credit card". I followed the steps on your video but now realize that is not my situation.

[@valariebarrett3605]

Thanks for teaching your classes so well.

[@stacytilney15]

Hello Hector, I'm wondering how to handle reimbursement to employees for expenses they pay out of their own pocket?

[@monkeygirl5578]

Hector, thanks for putting this video as well as so many videos together on how to use QuickBooks. It is incredibly helpful. One comment for improvement is to pause for about 5 seconds between going from one screen to the next. It helps give a viewer time to absorb what you just said before going to the next screen. It does tend to move a little too fast for us beginners. Thanks!

[@HectorGarciaCPA]

You can hit Pause in KZbin.. so because of that, i don’t worry about making the videos timed to match the learner’s speed. I prefer people can pause when they need to.

[@영하한-b9s]

The selective birthday disconcertingly brush because patient bailly drown during a miniature decrease. chemical, scared air

[@cibelesnunez]

Héctor gracias por toda esta información me ayudas mucho 🥰gracias miles gracias

[@hassanmaje5849]

I would write a zero expense, first line with positive expense amount, second line negative amount to owners equity.

[@HectorGarciaCPA]

That’s also possible

[@pannukakku.productions]

Awesome videos! My son and I started a small business recently and recognized the need for a simple accounting solution. While I didn't realize it when we made the decision to use Quickbooks, it was the best decision ever based on the work you have made available free to me! I can't thank you enough for sharing this information.

[@22jayasankarkr33]

NYZ

[@soniamora2170]

El mejor profesor de QuickBooks! Gracias por su explicación tan fácil de entender.

[@HectorGarciaCPA]

A la orden

[@richwahneEXPERTSmadeEasy]

Very informative! After entering an expense into the Petty Cash account, how do we move to the next step of reimbursing the owner for money spent for expenses during a given period of time?

[@HectorGarciaCPA]

Write a check to the owner.. categorize as “Petty Cash” so that account will be zeroed out

[@Ewalk-k8t]

Hi Hector! Thanks for your video! Very informative and much appreciated. Wanted to ask you specifically about the cash aspect from our business account (retail store) We have physical receipts for cash expenses for the business but are having trouble figuring out how to sync this from our square(pos) to our quickbooks? What option do we use for trying to catch up? (First year in business) thanks so much

[@HectorGarciaCPA]

Thats more complicated. I cant help you with that via a YT comment. You can hire an expert from my team to sit down with you and look at all the documents available to show you the process to reconcile petty cash from A cash register.

[@WiseGamingInsight]

@hector - great and simple video. This was very helpful to me and my businesses. Question on the video "overlays" that you are doing with the zoom in where you [click] what is that video overlay/motion graphic - it looks very useful?

[@HectorGarciaCPA]

Its a Mac function

[@israelalvarado9720]

first of all, THANK YOU FOR YOUR HELP!!! now, question is what i paid for a cell phone monthly service with my own personal credit card. do i record that as an expense or pay bill or bill? because i actually paid it for many months under my personal credit card not my business card. MUCHISIMAS GRACIAS!

[@HectorGarciaCPA]

As an expense from that “owner’s personal cash” account

[@ShaymaBellydance]

Hola Hector, maybe this is an old video but now in QBO we have cash and cash equivalents. Do I still need to make a petty cash acc or cash on hands and that still need to be as bank acc. I was using cash and cash equivalents for cash on hand

[@HectorGarciaCPA]

Its the same as “bank”

[@cheshirecat9643]

Hi Hector, my name is Stacy. I have cash transactions that I don’t know how to clear them. My boss will buy lunch for the office and pays cash. When I add the expense in quickbooks they never get cleared specifically when I reconcile the bank. How do I clear them.

[@HectorGarciaCPA]

I would have to look at it. The answer might not be an obvious one

[@evawashere9111]

Hi Hector, the business is an arcade which brings in plenty cash, so does not use petty cash, but the boss buys hardware supplies and goes to the arcade, who reimburse him cash on the spot..from arcade revenue, the paper expense is given to me and i put the amount into qb as an expense but i do not know what to call the chart of account for this..because say the expense cost $200 - i have to show $200 was supplied from somewhere...but where?!

[@HectorGarciaCPA]

From revenue

[@mailar7718]

How to use Quickbook online, for used Quick book desktop used to journal entry for Non government organization ?

[@HectorGarciaCPA]

Cant follow

[@CoalitionCPR]

Hector, I just found your channel and enjoyed the video on expenses paid in cash. My question relates to a charity. A member loaned money to the charity and would like the loan converted to a charitable donation. Right now the money is entered as a liability, "Loan covered by promissory note". As Treasurer how do I convert that loan to a charitable donation. Thanks for your help.

[@HectorGarciaCPA]

Change the category to “Donation Expense”

[@leannramosbookkeeping3537]

I have repeated the steps several times and everything matches up. However, when I get to the step with using Owner's Money to purchase a laptop my ending balance always comes out -$2500 even when I put it in the increase column. Why is this? What am I doing wrong?

[@HectorGarciaCPA]

Hard to tell without looking at it

[@AzD435]

Can we use sales order receipts to bookkeep local purchases in cash? When buying from an individual say on Facebook.

[@HectorGarciaCPA]

No, you use the Expenses transaction to record that kind of purchase, exactly how its explained here

[@wawood059]

Hector, thank you. I've been making purchases of business needs with my personal credit card, so need to show these as expenses, credits, and liabilities at the same time, right? But now I want to reimburse myself out of the free balance in the corporate bank account--how do I do this so everything balances out at the end of the month and all transactions in the proper accounts?

[@HectorGarciaCPA]

This video explains all that

[@AlexOrtega31]

Say I'm trying to create a 1099 but the contractors were paid outside of Quickbooks. I assume I would start with this?

[@HectorGarciaCPA]

Yes. You gave to write then a check from a cash/bank account as shown here

[@heathercarpenter5793]

I’m struggling to figure out how to do Owner Reimbursements to the Owners personal checking, where the expense came from. The expense is recorded.

[@lolajoy7986]

Did you get an answer to this? I'm looking for the same thing?

[@zerladiaz1608]

Hi, in bank transaction for review, a loan from officer was entered as an expense can I just exclude/delete it and make a journal entries to payable to officer since it was paid already so i can match them..thank you.. newbie here in qbo

[@HectorGarciaCPA]

Thats possible, or reclassify it

[@WaikikiJason]

How do I configure my QBO Accounting tab? Mine does not have it

[@HectorGarciaCPA]

Some files dont have it

[@wendygrose3548]

I have question that owner paid 50 dollars for home depot. Is it supposed to reimburse 50 dollars and recorded in the owner’s Money?

[@HectorGarciaCPA]

Yes

[@janetalmira828]

As always, you are giving juicy information in every topic about QBO. Thank you.

[@joseedgardopalomo5464]

Excellen Hector, I had done it using an unpaid deposit account, but is better to increase the owners equity

[@HectorGarciaCPA]

Yeap

[@theadornedlocket]

Hi Hector, I had a friend issue me a refund via Zelle for a damaged necklace that deposited to my business checking but was originally a personal bank purchase. I don’t want this to affect my P&L, how can I fix this and deposit back to my personal checking account?

[@arnoldboo42]

How do you record cash app entries that was not cash out to your bank account for that month of activity. Should I create petty cash so I can have an accurate expense and income on profit and loss statement. In some case the money that was sitting in cash app was used to pay expenses. Help!!!

[@HectorGarciaCPA]

Needs to be its own bank account

[@MaryGlorPingoy]

Hector, I have been a fan of yours, may I ask why not immediately post to owners money instead of petty cash?

[@HectorGarciaCPA]

Because some times people prefer a register with that history with natural transactions and not Journal Entries

[@danieloliviay627]

Hi Hector, in restaurant business, how to record cash that we give tips to our employees , and how to separate these tips that are deposited as sales on our bank account? Thank You

[@HectorGarciaCPA]

You need to record “Tips Income” and “Tips Wages Expense” in a journal entry

[@hamzaaliliaquat8856]

If the baggage expense is of business nature then why would reduce the business owner's money. My mind says it's better to write a cheque from checking account against the business owner's account for the replenishment of expense. And later on adjust the petty cash account with that amount. And the question from where petty cash will replenish is simple it comes from business i.e checking account. Can you validate that where I'm going wrong?

[@ClaudiaRodriguez-qg6oo]

Hector muy buenas tardes tengo una preguntita usted da clases en privado?

[@HectorGarciaCPA]

Yo no, pero mi oficina si. QBKAccounting.com

[@staceyconod968]

talked about if the owner used a personal credit card instead of cash but never explained that example. Is it the same process?

[@HectorGarciaCPA]

Same exact process

[@kellyanderson3826]

Cash from an owner is recorded as Contribution which is an equity account. If they take money out it is recorded in Distributions which is also an equity account. I would not create a fake account …??? Much easier and “truer”. Also, this will give the owner basis on their tax return. Only creating a distribution account- owner money- this reduces basis. They should get credit for contributions as well. This will make a big difference in their tax return.

[@stephaniemcdaniel4961]

So, would this process be the same if the owner used their personal credit card to pay for business expenses?

[@HectorGarciaCPA]

Yes... and just reimburse the owner at some point

[@mariamatlock8533]

Do you have a video that shows how to enter business income that was deposited into a personal checking account?

[@HectorGarciaCPA]

No

[@sourav.vlog333]

Hi, Please help!!! My owner is transferring money from personal account to company account and i am making payments for my expenses. & also i am paying salary to my employee but from another payroll app. But i need to record those payments in QuickBooks. How should I do that ?????

[@TiaCSmith-cb4ot]

but what about if I used my personal debit card to pay? if there a video on that?

[@HectorGarciaCPA]

Its the same as “paid in cash”

[@roseannerose8716]

Thank you so much. Just the info I was looking for.

[@HectorGarciaCPA]

:)

[@carlavidela4743]

Hi, thanks for your videos!!! They are very helpfull. I have a situation in between the contrib/distrib situation it self. The previous bookeeper was using the distribution account for reimburse and also for money the owners took from the company. I in my hand woul like to do it using dividens payable and then dividens. Dividens payable is a liability, but how i set the dividens the company pays? TIA

[@KevinMacKinnon-k3w]

Awesome job - perfectly explained!

[@HectorGarciaCPA]

:)

[@alexandrsevtov6688]

Thank you very much! It was so helpful!

[@HectorGarciaCPA]

:)

[@raulretana7981]

This guy is the best. My question before ruining into these tutorials is: Why bean counters and bookies make accounting look like it’s the equivalent to splitting the atom? Or going to mars🤣

[@khairope]

Great. It is easy to catch up for a newbie in QB. I have a different scenario. What if we pay cash for inventories where it is payment first (goods not received) and an employee initially pays it. Management had him manage petty cash but, considering the amount of inventory they do not allow to use petty cash account. Can i possibly use advances to suppliers plus advances from employee in this case? how are we going to perform the actual payment in Quickbooks? Appreciate in advance.

[@sananbhatti7450]

What will be double entry for this transaction..... I am so confused as I have no idea how we are DR EXPENSES (Petty Cash) and CR Owners equity....

[@corycm79]

I do have a question. Instead of writing a check, can I make a transfer from a checking acct to petty cash ? or from merchant deposits can I split the deposit to the bank acct and to petty cash/

[@angeliquemorafiallos1871]

I am very new to QBO, you are a lifesaver!!

[@HectorGarciaCPA]

Thank you! happy to help!

[@pmwehrle]

Hector, one more question. Does the owner's money account always have to be at $0? Is it okay to leave it in a minus or positive state? Same question for petty cash. Thank you so much for your videos. They are awesome! I already know a lot about Quickbooks. I'm just rusty, and you are getting into more details so you are really helping.

[@azaliyam1428]

How to show on qb if I sent from business to personal some money, that I used some of to business some for personal?

[@HectorGarciaCPA]

Just enter the business expenses in the clearing account as per the video

[@cheryldarnley4069]

Hector - when I record an expense that an employee or owner makes from their personal bank account, I generally record it as an "Employee Reimbursement" - the payee is the employee or owner and the category is Employee Reimbursement and my notes and attachments indicate where the purchase was made and for what as well as indicating if it was billable or billed to a customer project - is this incorrect? All of my employee or owner personal expenses are done this way in our Quickbooks - HELP!!!!

[@sofiacortez4146]

hello Hector, why you chose sales reciepts and not receive payments when you posted the petty cash

[@HectorGarciaCPA]

Either one works.. “receive payments is only for when an invoice already exists”

[@maggiemirabelli9040]

How can I reached you over the phone my mane is Maggie plese

[@HectorGarciaCPA]

To setup an appointment with a consultant from my office, contact 954-414-1524

[@zahidmalik8318]

Hi sir Hope u will be fine. Plz guide us how to add suspense account and unappropriated PL account in chart of accounts in qb online thanks

[@terribesworth6383]

Thank you for these videos. What I get paid in cash for an invoice and I don't deposit it and keep it on hand. I have been recording it as cash on hand...but it is showing up on my reconcile report under my chequing account? I think I am doing something wrong.

[@Thundr4x]

the expenses from my Cost of Doing Business is from my income. How would I record in QB that I pay the expenses from my income? I cannot mix personal and business expenses so im confuse on how to record. Thanks in advance!

[@HectorGarciaCPA]

Use the instructions in the video, its explained there

[@Thundr4x]

Thank you. About the “Decrease” in journal entry in Owners Money, in what situation will that be use? I’d like to understand

[@steveandjodybrown5109]

Great video Hector as usual! Not sure what I would do without you.

[@HectorGarciaCPA]

:)

[@TraceyRockburner]

Hi, I am sooo stumped rn. I received a refund half in cash and the other half a credit card credit. How would I enter this in QBO?

[@HectorGarciaCPA]

Cash goes into your bank or petty cash account and the credit card credit on the credit card account

[@TraceyRockburner]

@@HectorGarciaCPA Thank you, how do I enter the cash into the petty cash account? I am new to this!

[@iHOOAH]

I pay my business cellphone bill with my personal account. How do I record in quick books? I don’t have enough money in business account to pay for this bill?

[@HectorGarciaCPA]

The video shows how to enter expense paid from a personal account… its literally the main theme of the video

[@Expertinexcel1]

Increase your equity account, your cash will be increased too. Pay the bill by cash in hand. Once you have money in business account, transfer it to your equity account to decrease the equity.

[@marvelouss719]

Did I miss something? I did not see your explanation for when an employee spends his or her personal funds for business expenses.

[@daveyvane9431]

Hey! It’s not 1950 and no one uses cash. Ever!

[@HectorGarciaCPA]

In sure that at least some of the 100k + people that clicked on this video will beg to differ :)

[@amandajames5676]

How do you match a receipt (sent to QBO via the mobile picture app) to a journal entry added to the "Owners Money" register? (like you do around the 14:10 min mark of this video) QBO is saying "You need to select a different type of account for this transaction" when I try to match the uploaded receipt by saying the amount came out of the "Owners Money" account. Please advise. Thank you!

[@HectorGarciaCPA]

It can’t be assigned to a journal entry I think.

[@amandajames5676]

@@HectorGarciaCPA Gotcha. What's your recommendation for an approach that allows me to save a copy of the original receipt? In this case it is a gas receipt paid for using a personal account.

[@JeffBeagley]

@@amandajames5676 I am able to click the Journal entry from the Resgister, click edit, and then attach the receipt there. Not sure if this is the recommended approach though.

[@Arevirr1]

@@JeffBeagley Jeff, I agree. This is the only way I have found to attach receipts that are not logged using the EXPENSE option. Hoping they make some changes

[@pmwehrle]

Do I add the owner as a vendor or customer or employee? Or does it matter?

[@HectorGarciaCPA]

vendor

[@jenreynol1581]

my petty cash has a running negative balance, how can i enter a transaction that shows the owner had actually loaned petty cash a large sum of money from the beginning of time, so that negative balance and any future balances are not negative.

[@SorinBucse]

Here is where im stuck. I want to buy an asset from lets say Offer Up or Craigslist and the want cash. How would you track that transaction?

[@HectorGarciaCPA]

Put the payment/deposit into that petty cash account

[@SorinBucse]

@@HectorGarciaCPA I was thinking about something last night. I have started a business about 3 years ago using equipment that i have owned before that. Do you have a video on how to manage existing / depreciate assets in QB? EX: i have camera, paid 3k for it. 3 years ago. How do i track that? Sorry for the stupid questions. i did the research i didn't find a clear explanation / instructions like you do. Thank you in Advance.

[@candicewhitley3750]

Hector when I am entering personal money paid into the owners money account exactly the same way you did it.. on the vendor register those transactions don’t show up.. how do I get to show up under the vender. It shows on the profit and loss but not under the vendor. The reason I need it under the vendor is because one of the vendors I paid from my personal account but they need a 1099 and it won’t show up inorder to issue the 1099

[@HectorGarciaCPA]

You need it to come from a bank account

[@candicewhitley3750]

@@HectorGarciaCPA so how do you do that if it’s a personal card used before business started ?

[@gretchen0331]

As the owner of the account I have to switch to accountant View to create this account in chart accounts? Also I only have basic QuickBooks online. I do not want to link my personal bank account to QuickBooks neither

[@HectorGarciaCPA]

No. You can create them in business view as well

[@gretchen0331]

@@HectorGarciaCPA okay also would I have to create a journal entry instead of doing this?

[@naseralnimer3463]

You saved the Best By as a customer ! It Should be VENDOR

[@moonchild_queen17]

But where we see the taxable bifurcation????

[@HectorGarciaCPA]

Not sure

[@lvjunkandhauling]

Thanks Hector !

[@robiulhossain6955]

when we received a check but rejected for insaficient balance now how to add this check as a expense ? could you please tell me ...

[@HectorGarciaCPA]

Whatever category you use, use the same when the check comes back to net it out

[@robiulhossain6955]

@@HectorGarciaCPA Thank you very much

[@jessicavillanueva8448]

you just happen to answer my question in this video! thank you for sharing your knowledge :)

[@SaimaKhan-fo1us]

Thanks Hector! How would I make an entry of reimbursement of a loan from owner's personal account? I took the loan to purchase a business vehicle, do I need to make an entry as fixed entry?

[@isloo_boy]

You nailed it, man.. Thank to Allah Problem is solved!

[@maribelarbona2865]

Pero si el cash lo tomaron del cash del restaurant y lo ponen en el sistema de focus como paid outs? como lo registras?

[@susanauztariz89]

Hello Hector. I have a supplier that makes two kinds of deposit in my business account, one for the products I bought, and another deposit for FBA preparations (Amazon concept). So, I need the banking rule for categorizing the same supplier with different deposits.

[@JudyParsonsDVTD]

My customer was charging personal/medical/business on all kinds of cards, then making card payments from the business account. I was going to put the payments as owner's draw, but should I still create and owner's money account for the charges they made? Or can I re-name the account from member 1 draw to owner's money? or can I just include expenses to and from the customer personal account in the owner's draw?

[@HectorGarciaCPA]

Yes use an owners draw account

[@muneeb2010]

you are truly the best. I have just joined a new company and we are bookkeeping using quickbook. I am a professional account with many years experience. I want to know just one thing. Is it possible for me to just enter journal entries with debit credit instead of going to different categories of transactions?

[@HectorGarciaCPA]

Yes you can do just Journal Entries. Not optimal; but can be done.

[@WendyCarson-c7i]

Well done Hector! You are by far the most articulate QB professional I have found here. THANK YOU for what you're doing to help me/us in the QBO world. Please keep up the GREAT helpful tutorials!!

[@HectorGarciaCPA]

My pleasure!

[@ideabrickworks9043]

New subscriber. Just found you and love your teaching method and how well organized your presentation is. I will be back I am sure!

[@HectorGarciaCPA]

Thanks, i hope you drive value from them

[@quadmaster96]

3yrs old and still saved my day! Def will check out your courses!

[@nhungphungthicam4896]

Thanks for your video. Can you tell me how can I export Trial balance with opening, arising, and balance in QBO? Now i just can export only Balance. Thanks in advance! :)

[@HectorGarciaCPA]

You can’t.. that not available with built-in reports

[@arnoldboo42]

Regarding Cash App. When you don’t cash out the funds to your banking account , but instead the funds in cash app are used to pay bills. So we have two issues: The bank is not recognizing the revenue and the expenses. What is the best way to record these entries in quickbooks

[@HectorGarciaCPA]

Cashapp needs to be its own bank account

[@joanscherman9882]

If the owner paid $100 for excess baggage from his pocket and we use the petty case account to record it (Travel), isn't the owner entitled to a "Investment" of his own money in the Equity account Owner's Money?

[@HectorGarciaCPA]

Equity account

[@meyrodrigueskelly8609]

Hector I did watch your video about PM recordings, but it covers the investor pays out, but and about they still own money to the PM? Have I to record as Billable Expenses Income, which will be payable by customers later? I don't find any video from anybody. Thank you so much.

[@HectorGarciaCPA]

What’s PM?

[@victorogunsanya8004]

Good job Garcia