How to Track Owner Equity in QuickBooks?

How to Track Owner Equity in QuickBooks?

Today we will talk about How to Track Owner Equity in QuickBooks? If we will explain this to you in detail, then let us know How to Track Owner Equity in QuickBooks?

Owner's Equity refers to the amount of initial start-up investment used before starting a business or business or to purchase money and inventory for the business. Quickbooks is an accounting software application designed for small traders. Gives small businessmen by preparing an accounting background, which benefits the small businessmen a lot, if you are thinking of starting a new business or have started it now, then you can save the money invested in your business. Keeping an eye on your owner's equity becomes important to determine usage and application so that your money doesn't get lost in your eyes, so let's show you How to Track Owner Equity in QuickBooks?

How to Track Owner Equity in QuickBooks?

1. First you click on the company and then you select the Make Journal Entries option in the QuickBooks application

2. Then you have to click on Owner's Equity option and type in Debit section where you have deposited any fund related to business

3. Then you have to type your corresponding credit in the credit section

4. Then you select the option of List and select the option of Chart of Accounts

5. Press Ctrl and N together to create "Long Term Liability" account

6. Then you click on Type and also click on Long Term Liability

7. And in the last you click on the option of Enter Opening Balance and then you type the date and amount of any loan

And your process is over, if you liked this information, then definitely tell by commenting and if there is any problem then also comment, we hope that your problem will be solved as soon as possible..