What's the difference between 'Owner Investment/Drawings and 'Due to You and Other Business Owners'
VichayaC
Member Posts: 5
Every so often I have extended money to my business so that I can issue bill payments. I am not sure which of the 2 above accounts to use. Essentially, I want to see the chosen account in the drop down menu when I am recording a payment.
1
Comments
So far, neither of these accounts really work at all for me. The payments I've made for my business can't really be found other than looking at the transactions you know of and it shows there, it just seems to take the money in silence as a donation. It's horrible. However, in the reports module, go to account balances, and you can see it there, sort of.
I had to create a new account, as a Credit Card, so that it shows up for reconciliation etc.
But then you have to select "Transfer" and then pick your "Personal loan" aka "Credit Card." This is the only way that I've been able to get the records to show that the company owes me money.
By selecting my 'Due to You and Other Business Owners' account, it just showed a payment I made on something as company income, and as a positive towards this account. Just a win for the company, and a loss for you.
Explained here: https://support.waveapps.com/hc/en-us/articles/115005928103-How-to-account-for-reimbursements