Skip to main content
U
Umbrella Drywall Division inc
April 12, 2022
Question

How to input expenses properly

  • April 12, 2022
  • 1 reply
  • 0 views

Hello,

This has probably been asked before but right now, I'm overwhelmed with the new business administration stuff (also our newborn doesn't help), I'm months behind and I'm unfamiliar with the English terms. I also failed accounting 1 class 10 years ago.

 

Here's what I am doing at the moment. I personally pay for all the expenses of the company and pay myself back from the company chequing account at the end of every month. I understand the principle (I buy something for 100$, the company owes me 100$, the company pays me back (-100$) then the company credit (debit?) (-100$) from what it owes me. Bam, it balances. I just don't know where and what to input in the QB app.

 

Could somebody point me in the right direction so I can get started with my QB

 

Thanks!

1 reply

J
JamesM4
April 12, 2022

Hello there, 

 

Congratulations on the newborn! I'm happy to learn you're using QuickBooks to help streamline your work. I'll be happy to point you in the right direction so your books are accurate. 

 

To ensure accuracy in your books, I highly recommend getting in touch with 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 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.

 

Terms & ConditionsAccessibility statement