sole proprietorship with respect to my PERSONAL books?

[Paul Elliott]

On Wed, Feb 13, 2013 at 05:56:24PM -0500, jcard21 xxxxxxx wrote:
> 
> Paul, your confusion is caused by the fact that you still have not
> completely separated your personal financial life from your business
> financial life.
> 
> Your computer records (books) are separate, but your bank accounts are not.
> 
> I'd like to see how you reconcile your bank accounts! :-)
> 
> Read this short article:
> 
> Keep Your Business and Personal Finances Separate
> http://www.entrepreneur.com/article/204862

I have separate bank accounts for business and personal.

I keep track of both separately. That is why I have 2 separate
books.

But reality is that I had to fund the business with personal
money. And that I intend to spend personally some of the money that the
business makes.

Thus money has to flow between the entities.

The question is, how to account for this, when I have 2 sets of books
like everyone recommends. No one would want to own a sole
proprietorship hermetically sealed off from the rest of one's
life. People create sole proprietorships to make money that they want
to spend.


-- 
Paul Elliott                               1(512)837-1096
pelliott at BlackPatchPanel.com               PMB 181, 11900 Metric Blvd Suite J
http://www.free.blackpatchpanel.com/pme/   Austin TX 78758-3117
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