Hi. Advice on how to record a cash payment by owner.

leahkininmonth@gmail.com

I have made some cash payments out of owner funds and want to be able to record the expenses in the business without it being a transaction in my bank account (so I am increasing owners equity). Any suggestions? I used to know how to do it in the old desktop version of Quicken but can't figure it out in Reckon One.

gazza73

Sounds like a desire to raise a credit to the owner's loan account, and a debit to the expense account,  using a Journal Entry.  Unsure you expect that to be raising an equity position - more a liability to repay the owner (as a loan).  Depends on your business structure and manner of transaction/purpose really.  But somebody with accounting awareness of your business structure would be better placed to offer suggestions on this matter.  Simply looking at the mechanics for you in terms of using the tools here.   Gary

leahkininmonth@gmail.com

Thanks Gary