Allocating a payment ( that was a loan from Personal account ) to business credit card. Statemen ...

Question

t balance is still the added items but showing less on overall statement

Screenshot 2022-01-01 122702.jpg

JoannePacheco · Answer

Thanks for the info.

Tracey_H · Answer

Hi @Inspire2B

If personal funds are paid to a business account you need to record a separate Receive Money transaction just for that amount. Selecting the account the funds are deposited into in the Deposit to account field will create a deposit transaction in that account which you can match when reconciling with the actual bank deposit. Selecting a Director loan or Owners Contribution type account allows you to track how much personal funds has been introduced into the business.

For the Spend Money transaction in your screenshot, you'll need to remove the Payment by owner line and reduce the amounts so that the payment reflects the actual payment made.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Inspire2B · Answer

I did it this way.  See attached file.so I will need to redo the item as you have said. I lnow the file allocations etc.

Screenshot 2022-01-05 142738.jpg