What should payments be tagged with when paid from personal account

Wavergmail

I paid for 3 products by my personal card 2 days before my business account went live.

I have upload the receipts etc.

I have tagged them as owner investment drawings. But I think this may be incorrect?

many thanks in advance

Alexia

Hi, @Wavergmail.

We have a guide on how to do this, which you can find here.

Here's the short version:

• You'll be uploading those receipts to your personal page, not your business. You can switch over to that part of your Wave account by clicking on the name of your business in the top-left corner, and then on Personal.
• You'll use your credit card as the Account and the most appropriate category as the Expense category.
• Next, you'll have to go to your transactions page and change the category to Owner's Investment/Drawings.
• Finally, go back to your business and create a journal transaction between Owner's Investments/Drawings, the appropriate expense account and your sales tax (if required). You'll see more details about that journal entry on the link above.

Let me know if you run into any issues!

Wavergmail

thank you!!

Alexia

No problem at all, @Wavergmail!