Thanks for responding Alex. I understand utilizing the owners equity account if there were funds actually contributed.
The owner transferred the cc to the company. He paid the personal expenses with his personal money.
The only reason the book keeper entered the personal transactions to QB was so she could reconcile the CC.
The only way she could think of to "pay" the cc was via the suspense account.
These are not real transaction as money wasn't provided to the company. We just needed the account to be zeroed for reconciliation.
I just need to journal out the suspense account but don't know where to put it so it doesn't effect the books in either direction.
