QB Issue Resolution:
If you will be taxed as a sole proprietor or partnership, the you make a deposit in a bank account you first create in QB and use equity or better equity investment as the source (from) account for the deposit
For a company taxed as a sole proprietor (schedule C) or partnership (form 1065), I recommend you have the following for owner/partner equity accounts (one set for each partner if a partnership)
[name] Equity (do not post to this account it is a summing account)
>> Equity Drawing – you record value you take from the business here
>> Equity Investment – record value you put into the business here
Then at the start of the new year, this structure allows me to roll up last years investment and drawing into the equity sub account – that way I can easily see the investment and withdrawals for the current year.
Resolution for Issue 'how will i set up my initial cash investment?' available: Yes (Solved).
Source: Intuit Community forum.
how will i set up my initial cash investment?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Bank Account
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