If there are two businesses operating out of home, one is incorporated the other a LLC, and utility expenses were paid out of a personal account how would I enter those expenses into the software? Would it first of all be split 50%? I'm not sure what kind of journal entry to make since it was not paid out of either business account, but want it to be reflected in the books. I'm very new to bookkeeping and this is one of my first clients.
Thank you
magdalena bene, bookkeeper, Pasadena