Banking

To pay owner's personal expenses using company funds

The Bank Register window should be displayed.

1. Select the bank account that will be used to make the payment, or select your linked Checking Account for Electronic Payments if you plan to make the payment electronically.



2. In the Type field, select Spend Money if the bank account you selected is an asset account (checking account) or Enter Charge if the account is a liability account (credit card account).



3. Review the transaction number and transaction date and change them if necessary. (If this is a non-check transaction, enter a term, "Cash," for example.)

Note:  For a cash or electronic payment, you may want to replace the check number with letters or words

4. Using the Card field, select the payee's card, or enter the payee's name in the Name field if you don't have a card for the person. (If this is a non-check transaction, you may leave this field blank.)



5. Enter the amount paid.



6. In the Account field enter your Owner's Equity account (or Owner's Equity/Withdrawal account). This account will be decreased by the amount of the transaction.



7. Enter a short, descriptive comment in the Memo field, if you like. This information will appear on a number of reports.



8. Click Record.

Related topics

• Tracking an owner's expenses
• To pay company expenses using owner's personal funds