How do I record owner's equity (contribution/draw)?
Here is how you can record a contribution to your firm in Zola:
- Go to the Bank & Register tab under the Accounting section.
- Press the "+" on the top right of the green bar and select "New Journal Entry"
- Fill in the date of the transaction
- In the first line, select the operating bank account to which you are depositing/withdrawing your contribution/draw.
- If this is a contribution, enter the amount of the contribution under the Debit column and leave the Credit at 0.00.
- If this is a draw, enter the amount of the draw under the Credit Column and leave the debit column at 0.00
- In the second line, select the Owner Equity account.
- If this is a contribution, enter the amount of the contribution under the Credit field and leave the Debit at 0.00.
- If this is a draw, enter the amount of the draw under the Debit field and leave the Credit at 0.00.
- Click Save.
How Do I Set up Opening Balances in Zola Suite?
Zola Suite has built in accounting to track all your accounts and provide reports. Before you begin recording transactions in Zola Suite, you will want to bring over your books by recording opening balances. Before you begin, make sure that your ...
How Do I Record a Phone Call in Zola Suite?
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How Do I Record a New Retainer?
When taking in any kind of advanced client payment, retainer or recording a deposit to the Trust account you will want to enter it as a New Trust/Retainer Payment. You can also create a retainer with a credit card via LawPay. Go to Accounting section ...
How do I generate 1099’s in Zola Suite?
You can produce a list of Vendors with the option to generate a 1099-MISC or 1099-NEC form in the 1099 Reporting Section. To access this report, go to Accounting > Reports > Vendor Reports > 1099 Reporting By default Vendors who have received at a ...
How Do I Apply a Retainer to Invoice(s)?
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