In this Video will be covering Owners Equity. Owner’s equity is basically used when the owner’s personal funds are being deposited or withdrawn out of the company. So if the owner makes a personal deposit into the business checking account, you would use owner’s equity as the account on quickbooks.
Owners Equity in Quickbooks
To take it to another level, if the owner uses the company credit card for personal items, when reconciling, all those personal charges go under owner’s equity. This number appears on the Balance Sheet only, it does not appear on the profit and loss as it has nothing to do with income or expenses.