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QuickBooks Tips Blog

Using Equity Accounts In QuickBooks

Posted by Joe Mazur on Jan 20, 2014 6:14:00 AM

It is extremely important for business owners and shareholders to properly track the money they may contribute to the business or draw from the business. QuickBooks makes tracking these transactions easy once the equity accounts are properly set up within the Chart of Accounts.  Whether someone is contributing money for a stake in the company or an owner is drawing funds out in lieu of payroll, equity transactions are important come tax time and for monitoring startup costs.

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Topics: Do It Yourself Bookkeeping, Starting A Business, Small Business Owner