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QuickBooks Question #2

Discussion in 'Business Operations' started by HighGrass, Mar 15, 2006.

  1. HighGrass

    HighGrass LawnSite Bronze Member
    from Z5 MA
    Posts: 1,237

    Okay, say you want to buy a piece of equipment (thatcher) and you want to buy it on your personel credit card. Can I show that as a "Loan" torwards the business? And then, pay the lawn "off" over time?:confused:
  2. jblawns123

    jblawns123 LawnSite Senior Member
    Posts: 340

    You need to set up the item with 2 sub items, you want to depreciate the cost over time correct? For tax reasons?

    You setup the item and have 2 subaccounts "cost of item" and "accumulated depreciation"

    You can find more on this on the net, search around.

    It doesn't matter how you pay... Petty cash, bank card check... its all how it is accounted for.
  3. Littleriver1

    Littleriver1 LawnSite Senior Member
    Posts: 811

    HG, If you look at your chart of accounts you will see one called Owner's Capital with a sub account called Investments. You can use that if you add your personal money to your company. That way there will be a record of where the money came from.

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