Sometimes Founders personally pay for business related expenses that they will not be reimbursed for. There are a couple different options for tracking these expenses in Puzzle.
Option 1: Manual Journal Entries (small number of transactions)
If the number of expenses paid on personal accounts is small enough to enter individually, say less than 30, recording them with manual journal entries is a good option.
Step 1: Add an account to your chart of accounts
There are a few different options for recording these funds contributed from personal account; one common approach is treating them as a "Shareholder Loans" account on the financial statements. This allows founders to accurately track the personal funds spent on the business.
To do this, create a new account in the Chart of Accounts called Shareholder Loan (click here for instructions on how to create a new account). This account should be set up as a liability account under the parent account Long Term Debt.
Equity accounts like Additional Paid in Capital and Member Contributions, are also possible.
Step 2: Enter monthly manual journal entries
Enter a manual journal entry at the end of each month, debiting the corresponding expense accounts for each expense paid out of personal funds and crediting the "Shareholder Loan" account.
Instructions for manual journal entries here.
Option 2: CSV Import (large number of transactions)
Step 1: Add a "dummy" credit card account to your chart of accounts
Add a "manual" credit card account on the integrations page.
Set the account name and number as you'd like to see them in Puzzle (e.g. "Personal Account - 1234").
Detailed instructions here.
Step 2: Upload expenses via CSV
After adding the account, manually import the transactions that are applicable to the business (follow the instructions here). These should be negative numbers to represent "money out" transactions. After the expenses have imported, ensure they are categorized to the proper expense accounts. The balance of "dummy" credit card account should equal the total unreimbursed expenses from the founder.
Step 3: [OPTIONAL] Move balance from dummy credit card account to "Shareholder Loans" Liability account.
There are a few different options for recording these funds contributed from personal account; one common approach is treating them as a "Shareholder Loans" account on the financial statements. This allows founders to accurately track the personal funds spent on the business. Equity accounts like Additional Paid in Capital and Member Contributions, are also possible.
To do this, create a new account in the Chart of Accounts called Shareholder Loan (click here for instructions on how to create a new account). This account should be set up as a liability account under the parent account Long Term Debt.
Then add another (this time positive) transaction to the dummy account at the end of each month or year equal to the total of the expenses paid during that month/year and categorize this transaction to "Shareholder Loans."
This will result in a balance in the "Shareholder Loans" instead of the dummy credit card account.