If you’ve reviewed this course in it’s entirety, then by now you’ve hopefully picked up on something very important. While the software may look and function differently, the underlying bookkeeping fundamentals are exactly the same. Debits are still debits. Debits still increase assets & expenses. Software will never change that. Credits are still credits. Credits still increase income, liabilities, and equity.
Zoho Books is no exception. when we look at Owner / Shareholder, Member, or Partner contributions, or distributions, we still see the same things. Net income from the income statement closes out to the equity section of the balance sheet. Contributions still increase equity, and distributions decrease equity. Nothing changes.
Watch the video from this final lesson in the course, and see how to use Zoho Books to manage the equity section of the balance sheet.