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Accounting for the Owners’ Personal Expenditures and Contributions (2335/Level 1)


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This workshop has been thoughtfully prepared and recorded – and you can access it immediately. Upon purchase, you’ll receive a link to download a pdf document that gives you immediate access to both the online recording and handouts. ….$127


“Cookie Jar Accounting”:  Understanding & Accounting for
the Owner’s Personal Expenditures, Contributions, or Loan Activity

Approximately 43 minutes:

  1. The owner is an “honored guest”
    • How the owner is separate from the business
    • Segregating the owner’s income and cost from the business
    • The primary challenge when viewing the owner’s transactions
    • You do have some choices…
    • Various tax implications when it comes to owner’s transactions
  2. Contributions from the owner may come from:
    • 8 examples and how to enter each
  3. Outgoing expenditures to (or for) the owner may show up as:
    • 10 examples and how to enter each
  4. Cautionary notes – don’t forget these extra insights!

 

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