How do I record purchases made with the owners cash if I need to use "items". I am in the construction business, if I use items the materials used to complete the job will appear on the invoice. Cannot make entries through the general journal as items cannot be used there.
I too am in construction industry. Here is how I do mine.
I set the owner up as a vendor then when he brings in the reciepts I record them as a bill. I then pay the owner from the bill. This way you can use the items and also mark them as billable. I use the customer job number so that I can see what were the costs per job
You can also set the owner up as a credit card. Enter each receipt as credit card entries & pay the owner by cheque against the credit card GL.
Kate
