Banking and reconciliation
Entering initial capital contributions
Last updated Tuesday, October 15, 2024
You can enter initial capital contributions or investments used to fund your business.
Step-by-step instructions
- Go to
Bank Accounts
on the left side menu. - Click on
Ledger Transaction
on the bank account you'd like to receive the funds into. - On the transactions sheet in a new row, enter the following:
- The
Date
the funds were received. - A
Description
, for example, "Investment by Mr. Ahmed S.". - The
Amount
received. - Under
Classify to account
, chooseOwner's Equity
.
You can create your own Equity accounts
You can create other Equity
accounts in your Chart of Accounts
if you'd like finer control over the type of the investment.