Recording Personally Paid Partnership Expenses in Manager.io for income tax

1

Hi everyone,

I’m in a partnership that isn’t currently generating income, but it does have ongoing project-related expenses. As a partner, I often personally pay for items (e.g., materials, subscriptions, services) that are directly related to the partnership’s operations.

I’d like to record these expenses properly in Manager.io so that:

  • The partnership’s financial records reflect the actual business expenses and so that those items can be recorded against a manager.io project.

  • My personal contributions are tracked accurately (ideally against my capital account).

  • The expenses are not planned to be reimbursed, and I want them recorded against personnal tax as I am currently an employee so want to offset that income.

Questions:

  1. What’s the best way to record these personally paid expenses in Manager.io?

  2. Should I use journal entries to debit the expense and credit my capital account?

  3. Is there a preferred method for tracking partner contributions separately from reimbursed expenses?

  4. Are there any reports or setups that help with reviewing partner contributions over time?

Any advice or examples from others who’ve done this would be greatly appreciated!

Thanks in advance.

2

First set up Capital Accounts.

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Then use Expense Claims for purchases that you have personally paid for.

3

Great. Thanks for the confirmation.