ForumsAccounting and Budgeting

Santa Fe CPA, Thank you for your input - am I correct about the first entry? owner contrubition to fixed asset? And can you provide more info about your service ?

Thanks again

MRFINANCE, Thanks for your kind words. Richard Robinson, CPA

Good Afternoon there, t1uke,

The entiries to book this transaction would these: A debit to Fixed Assets and a credit to the Capital Account. The depreication would be booked as a debit to Depreciation Expense and credit to Accumulated Depreciation.

My firm provides bookkeeping, tax and accounting services to small abd medium size enteprises across the country. We use and Application Service Provider to host the QuickBooks software that we use (primarlily, as the off the shelf market leader.) but also ahve a Peachtree capability. We work in a "paperless" environment; inout materials and documents are faxed or e-mailed via a secure communications link to my document management service by the client at the end of each business day. The items are then posted to your file overnight by my bookkeeping staff and are available to the client the next morning. Full disclosure, my data entry bookkeeping staff is located ofrtf-shore in Bangalor, India, they are trained accountants. .