Record owner money

When the owner puts their own savings into the business, or takes money out for school fees or rent at home, the business’s account changes but the business has not earned or spent anything. Record it as owner money, so the balance is right and the profit stays true.

Steps

1. Open Money and tap Owner money

   Go to Money › Money and tap Owner money. Kila explains it: “Money the owner puts into the business, or takes out for themselves. It is not a sale or an expense, so profit does not change.”

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   Steps 2 to 5 on one form.

   

2. Choose Owner put in or Owner took out

   It starts on Owner took out. Tap Owner put in for money coming into the business.

3. Choose the account

   For money put in, choose the account it went Into. For money taken out, the account it came Out of. For cash, Kila also asks which Branch.

4. Enter the amount and a note

   Type the Amount, check the Date, and add a Note that says what it was for.

5. Tap Record

   Kila says Owner put in: MON-…: owner put in KES 150,000.00. The move shows under Recent moves.

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What if

The owner paid a business bill from their own pocket

Record the expense as usual and choose the account in Paid from, then tick Owner’s own money: “Records that the owner put the money in, then the payment.” See Record an expense.

The owner took cash from a till

A cashier records it on the till, from Move cash on the shift, as money paid out of the drawer: see Move cash during a shift.

Needs a manager

Only the owner, and someone the owner gives the owner’s money right, such as the accountant, can record owner money.

Related

• How money accounts work: where the business keeps its money.
• Read your profit and loss: owner money is not in profit.

Next: check the account against its statement: Check an account’s balance.