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bpuchala
May 15, 2022
Question

Individual Owner has withdrawn cash from the bank, how do I record this when the cash will not be 'paid back'?

  • May 15, 2022
  • 1 reply
  • 0 views
They have been paying their personal expenses from the same account.  We will be setting up separate bank accounts.  Just trying to clean up what has been done to date.  

1 reply

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JamesM4
May 16, 2022

Hi bpuchala,

 

Thanks for contacting us here. QuickBooks Online is a hassle-free program that simplifies the way you manage your accounting. I'll be glad to point you in the right direction so you can achieve your QuickBooks goals. Recording your transactions the right way is a good exercise for keeping your books accurate.

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get expert advice. Doing this will help prevent any future discrepancies in your books. You can also reach out to accounting professionals on our site using this link here.

 

I'll also leave this question here so other accounting professional members can chime in and share their expert advice. Let me know if you have other questions, I'm here to assist.

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