First Shareholder payment

Hi JayLo,

Congratulations on your new company!  In QuickBooks Online you can record personal funds used to start your business and pay bills, also known as capital investment.  I'd be happy to provide the information you're looking for!

Initially, you'll need to add yourself to the books.  Here's how:

1. From the left menu hit Expenses and then Suppliers

2. Click New Supplier

3. Fill out the required fields and then Save when finished

As the sole proprietor, you're going to want to set up an equity account to see what you invest and make from the business by following these steps:

1. From the Settings ⚙, in the top right, select Chart of Accounts

2. Hit  New

3. Use the Account Type ▼ drop-down, choose Equity

4. For the Detail Type ▼ drop-down, select Owner's Equity 

5. When complete, hit Save and Close

You're ready to record the investment!

If you've connected your bank account, there's no need to record the investment, you'll just need to categorize the transaction associated to your deposits.  If you haven't linked the account, you can record the deposit this way:

1. Select + New from the left menu

2. Choose Bank deposit

3. From the Account ▼ drop-down menu, select the bank account you're depositing the money into

4. Enter the Date when the deposit was made

5. In the Add funds to this deposit section, enter the name of the investor in the Received from field

6. Select the equity account from the drop-down list in the Account field

7. Specify a Payment method.

8. Enter the investment amount in the Amount field.

9. Select Save and close when finished

In addition, you'd want to record the capital disbursement.  This is how you'd do that:

1. Click + New

2. Select Cheque

3. Enter the person you’re paying back

4. Provide a cheque Number

    -On the first line enter the  equity account you use to track the investment in QuickBooks, and the amount you're paying back today

    -On the second line; Expense account you use to track the interest you pay, and the amount of interest that is part of your payment

    -Additional lines; Any additional fees and their appropriate accounts

5. When you're done, select Save and close

Here's some helpful articles for your reference:

Record an owner's contribution or capital investment

Connect a Bank Account

Categorize and match transactions

I hope you find this to be beneficial.  All the best!