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Paul_RiThink's avatar
Paul_RiThink
Contributing User
3 years ago
Solved

Owners Contribution Repaid

Hi. I have taken over sorting out the bank accounts for this company run solely by the owner. 

They deposited $15k at the start and I have coded this to "Owner Contributions"

For the first few Owner Drawings upto the value of the original contribution, should I code it to Contributions to cancel that out, or just to Drawings so the original contribution amount will always show under that GL code?

Thanks for your help

Cheers

  • jenniek's avatar
    jenniek
    3 years ago

    Hi Paul_RiThink 

    Drawings would be the better - to show Money that went in, then drawings shows it going out again.