There's been a couple of times my husband and I have had to use personal money to pay for business expenses, we don't intend to be reimbursed for these, and we are a cash only business, how do I set this up?
What type of entity is your business setup as, Corporation, Partnership, LLC, etc?
If this is a sole proprietorship or a husband-wife partnership than you can enter these transactions as a journal entry. Create an equity account named Owner Contributions if you do not already have one for the prorpietorship or Partner's Contributions if this is a partnership. Your journal entry to record your out of pocket expenses would be a debit to the appropriate expense account and a credit to the equity account Owner Contributions.
