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Initial Investment
05-24-2011, 07:24 PM
Post: #1
Initial Investment
I have just started quickbooks for my small business. Prior to opening an official bank account, I made a purchase on my personal credit card as an initial investment and paid my credit card bill from my personal bank account. How do I record this initial investment in quickbooks?
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05-25-2011, 09:12 PM
Post: #2
 
You have to made 2 entries for this, 1st one whatever u purchase entry will be pass for that Purchase/assets/expense Debit and Capital credit, and when u paid credit card bill entry for that Drawings Debit and Bank a/c credit.


<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by sqjehd</i>
<br />I have just started quickbooks for my small business. Prior to opening an official bank account, I made a purchase on my personal credit card as an initial investment and paid my credit card bill from my personal bank account. How do I record this initial investment in quickbooks?


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