- Joined
- Jul 2, 2013
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First off, thank you for any assistance given. I work alone, am incorporated, and am trying to keep the books by myself if possible.
Being a sole proprietor before incorporating, I was comfortable with co-mingling my personal and business finances. I now have a bank account dedicated to the business, but I still have bills and expenses coming through my personal accounts that I need to expense back to my business.
Take cell phones, for example. I have two phones that are billed in my personal name, but are used for business purposes.
Is it possible for me to track my personal cell phone expenses through the company books, by entering them as a negative amount in the Due to/from Shareholder account?
Please see linked image as how I am intending to do this. (please copy and paste link below)
s1070.photobucket.com/user/psmithCA/media/ScreenShot2013-07-01at90537PM_zpsf810ca83.png.html
Being a sole proprietor before incorporating, I was comfortable with co-mingling my personal and business finances. I now have a bank account dedicated to the business, but I still have bills and expenses coming through my personal accounts that I need to expense back to my business.
Take cell phones, for example. I have two phones that are billed in my personal name, but are used for business purposes.
Is it possible for me to track my personal cell phone expenses through the company books, by entering them as a negative amount in the Due to/from Shareholder account?
Please see linked image as how I am intending to do this. (please copy and paste link below)
s1070.photobucket.com/user/psmithCA/media/ScreenShot2013-07-01at90537PM_zpsf810ca83.png.html