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Assigning Receipts to Owners
SoulJam
Member Posts: 3
Hello! I am new to wave and am in the process of launching a business with my partner. We both have equal shares in the company and before we had a business bank account we were using our personal accounts and credit cards to make payments for all necessary expenses. Thankfully we've kept all of our receipts.
For all of these initial expenses, is there a way to keep track of who paid for what once we upload the receipts? In the end, the company will owe my partner and I for the expense we paid out of pocket, but I cant seem to find the correct process to keep track of this.
Could anyone help explain the right way to do this?
Thank you!
James
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Hey @SoulJam !
Welcome to Wave. We're excited to be a part of your entrepreneurial journey.
To categorize transactions as personal spending from your business, or personal investment into your business, you can choose "Personal Expense or Withdrawal" or "Deposit from Personal" when you’re categorizing. You can learn more about how this works here