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December 20, 2023
Question

Simple retirement

  • December 20, 2023
  • 1 reply
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I have set up employees with a simple retirement owner contribution and employee deduction. 
I also want to make an owner deposit, one time end of year. Please help me through the steps for business owner. 

1 reply

December 20, 2023

 I've got the steps to record an owner deposit, Hayesvilledonna.

 

Regarding the owner deposit, if you meant recording an owner's contribution or investment, please follow the steps below:

 

Step 1: Set up an equity account

 

Step 2: Record the Investment

 

  1. Click +New and select Bank deposit.
  2. From the Account dropdown, select the bank account you're depositing the money into and enter the Date you deposited the money.
  3. In the Add funds to this deposit section, enter the name of the investor in the Received from field.
  4. Select the appropriate equity account from the drop-down list in the Account field, then Specify a Payment method.
  5. Enter the investment amount in the Amount field, then hit Save and close.

 

For more details about recording an owner contribution, please click this link: Record an owner's contribution or capital investment in your business.

 

If the deposit is for something else, please provide us some details of what owner deposit you're referring to. 

 

Moreover, I'll share this link to help you track loans to buy new assets: Record the loan for an asset in QuickBooks Online.

 

Comment below if you need further assistance in recording an owner's deposit. I'm here to help. Take care!