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Journal entry

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When I add funds to cover expenses that exceed my income for rental property, what journal entry is to be done?

QuickBooks Desktop

There's no need to make a journal entry, just create a bank deposit. That creates the proper journal entry but uses a deposit-type transaction which is better for reporting. Assign the appropriate equity account to the deposit based on whether this is a sole proprietorship, S-Corp, or ??

RainflurryAnswer

@mobern

There's no need to make a journal entry, just create a bank deposit. That creates the proper journal entry but uses a deposit-type transaction which is better for reporting. Assign the appropriate equity account to the deposit based on whether this is a sole proprietorship, S-Corp, or ??

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