Question

Trying to reduce clutter when adding all accounts used to buy stock

Forum|Forum|10 months ago
September 6, 2025
1 reply
4 views

I recently started an etsy store, and when I first bought the stock, I used my personal account. Since then the store has taken off more than expected so that I will need to log everything to pay taxes, hence using quickbooks.

The problem I have though is that I have used multiple accounts/credit cards to buy stock since I began a few months ago. So I linked every account I had use but it quickly became too much to sort through everything.

I had already downloaded every invoice for purchacing supplies for the business and so I uploaded onto qbo. I did try and link everything but quickly realised that my income/outgoings section was (obviously) showing all of my personal income and spendings too. I have since set up a seperate account that from now on will only be used for the business.

However, I'm really not sure how best to go about adding my invoices and income to best keep track of it all, especially now that I've removed my personal bank accounts which I used to buy all the stock. I now cant seem to get qbo to use the receipts without then being linked to a transcation pulled from my bank account.

Am I missing something here? I think it might be too much work to have to manually sort through each transaction fro my personal accounts and would like to be able to do it all manually, and also then use this for my tax returns.

I hope this makes sense!

QuickBooks Online

R

RheaMaeH

QuickBooks Team

Thank you for providing detailed information, MP89.

To reduce clutter and track past purchases made from multiple personal accounts or credit cards, and ensure they appear in the system for tax reporting, you can manually record these transactions in QuickBooks Online (QBO) as Expense or Check transactions.

When entering these past purchases, categorize them under the equity account, such as Owner’s Equity or Partner’s Equity. This reflects the personal funds used to purchase inventory for your business.

Click + Create.
Choose Cheque or Expense.
Select the personal account or credit card you used
In the Category column, click Partner's equity or Owner's equity.
Fill in the necessary info.
Once done, click Save and close.

After recording the past purchases, you can continue to upload your invoices and match them to your manual expense entries. This will help keep your records accurate and organized.

Moving forward, use your dedicated business account exclusively for all income and expenses, linking it to QBO for automatic transaction imports and easier management.

Lastly, it’s always a good idea to consult with your accountant to ensure everything is recorded accurately, especially for tax purposes.

Feel free to return to this conversation if you have additional questions.

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