entering receipts paid by cash
how to enter recipts paid by cash?
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11/02/09 3:41pm PST
Viewed by asker 11/03/09 2:49pm PST
Viewed by asker 11/03/09 2:49pm PST
3 Replies
Michelle Long CPA
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11/03/09 5:44am PST
It depends. Was it paid with personal funds? Will the business pay you back? Was it an owner's contribution? You can enter a journal entry to debit the expense and credit due to owner or owner's contribution or some other account based on the circumstances.
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Author of the books 'Successful QuickBooks Consulting' http://amzn.to/lJqmb8 and
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'How to Start a Home-Based Bookkeeping Business' http://amzn.to/jNk9Bg
www.LongforSuccess.com - my blog, resources, webinars & more
11/03/09 10:13am PST
I'm a sole proprietor and have no employees. I pay for everything by credit card or cash, I do occasionally write a personal check for services. How do I enter receipts that I paid cash for into quick books so I can track expenses and prepare my year end taxes?
Michelle Long CPA
Questions asked: 58
Questions answered: 22346
Points earned: 65066
Questions answered: 22346
Points earned: 65066
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11/03/09 10:32am PST
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Go to Company>Make General Journal Entry and debit the expense accounts (or what ever you paid for) and Credit Owner's Contribution ( an Equity account).
You really should keep business & personal separate!
PLEASE mark this answer as solved (click the button under the answer in the lower, right corner) or post additional questions.
Author of the books 'Successful QuickBooks Consulting' http://amzn.to/lJqmb8 and
'How to Start a Home-Based Bookkeeping Business' http://amzn.to/jNk9Bg
www.LongforSuccess.com - my blog, resources, webinars & more
'How to Start a Home-Based Bookkeeping Business' http://amzn.to/jNk9Bg
www.LongforSuccess.com - my blog, resources, webinars & more
