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Buy nowI am a QB newbie. I haven't done accounting in years. I just started working for a small LLC. The owner has Members Equity & Members Draw accounts set up. My question is, What is the posting process when the owner transfers funds from his personal banking acct to the business ckg acct, but he is wanting it to show as Member Contributions. (He has 4 bank accts set up. One is for AR, general ckg, reserve acct, and personal. And there are only 3 Equity Accts set up: Opening Bal, Members Draw and Members Equity.)
He is funding his business from his personal account but the transactions aren't set up to show it tied to the equity accounts and I can't figure out how to correct it. When he is transferring money from the personal to the company ckg acct, doesn't it need to be filtered through the equity account? It is only showing up between those 2 accounts and no other record for the equity account.
Please help.