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G_22's avatar
G_22
3 years ago

Deposit Paid from Personal Account

Hi, 

 

A deposit was paid from a personal account for an asset (under finance) prior to the business bank account /myob being set up. 

 

What is the best way to record the deposit as owners equity contribution seeing as the bank statement won't match?

 

Thanks, 

 

1 Reply

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  • LRBooks61's avatar
    LRBooks61
    Ultimate Cover User
    3 years ago

    Hi

     

    use a journal entry to record the transaction

     

    look under accounting tab  - create general journal

     

    hope that helps

     

    Lisa

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