Billing Myself - Wave / Accounting Best Practices
I have a small company which deals with property rentals etc. The company is renting office space in one of their own properties. The company needs to essentially bill itself for $250 per month and then pay that same about. The paper trail is important so I am looking suggestions on the best method of accomplishing this.
I currently create an invoice and bill myself. When I pay the invoice I have been using Owner's Equity as the payment account. This works in the sense that the number balance but there is no real paper trail. I want to be able to pay this bill and specify that the money paid out by the company to the company was specifically for category Rent Expense. At present the transactions show payment for invoice #9 etc.... Not sufficient for what I need.
I see no way of doing this at the moment other than multiple journal entries... Anyone have any other ideas...?