QuickBooks Business To Personal Equity Transactions

Learn How To Record Spending For Non-Business Transactions And Record Personal Funds Spent For Business Reasons

Created by: Mark Smolen
Professor of Computerized Accounting

What Will I Learn?

• Record Transaction Where The Owner Pays Business Expenses From Personal Funds
• Record Transaction Where The Owner Pays Non- Business Expenses From The Business Bank Account
• Record Withdrawls Of Cash, And Non-Cash Assets From The Business For Personal Home Use
• Record Investment Of Cash, And Non-Cash Assets In To The Business From The Owner
• Identify Retained Earnings And What It Represents
• Record Distribution Of Partnership Income Into The Equity Accounts
• Change The Fiscal Year In The Company File
• Change The Company Tax Form In The Quickbooks File
• Map Accounts To Lines In The Company Annual Federal Income Tax Form

Requirements

• Basic Computer Skills

Target audience

• Anyone Who Needs To Keep Financial records Of A Business
• Anyone Who Pays Business Epenses From Personal Accounts
• Anyone Who Spends Business Money For Personal, Non-business, Home use
• any partnership that distributes the shared income periodically
• Anyone Who Withdraws Assets Or Cash From Thier Business For Non-Business Personal Home Use