Entering expenses paid with owner’s personal funds

October 22, 2014

Do you struggle to enter owner-paid expenses into your accounting software?

How about setting yourself up as a bank account?

This will give your owner’s draw or shareholder loan account all of the functionality of a bank account, including writing cheques and paying bills. You can even set up multiple “Bank of Me” accounts if you wish to track different personal accounts or credit cards.  At year end, your accountant will simply move all of these “bank accounts” into your owner’s draw or shareholder loan accounts.  How easy is that??

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