Tracking business expenses from personal account

[Maf. King]

On Tuesday 15 Feb 2005 06:42, Boyd Kelly (Coast Systems) wrote:
> Well what I've been doing is in my personal file:  Entering the 'other'
> side of the transaction in a 'business' account under Equity.  Then in
> my business file: The same transaction also goes to Equity, and then the
> other side into the expense account.  I have a feeling this is the right
> thing to do, maybe just get a sanity check from the accountants?
>
> Thx
>
> Boyd
>

Hi,

IANAA, but isn't money owed by the company to you one of your assets, not 
equity?

Maf.


> -----Original Message-----
> From: gnucash-user-bounces at gnucash.org
> [mailto:gnucash-user-bounces at gnucash.org] On Behalf Of E Dodd
> Sent: February 14, 2005 9:38 PM
> To: gnucash-user at gnucash.org
> Subject: Re: Tracking business expenses from personal account
>
> On Tuesday 15 February 2005 16:23, Boyd Kelly (Coast Systems) wrote:
> > What is the best thing to do in your 'personal' file when you use
> > personal funds to buy something for the company?
> >
> > Thx
> >
> > bk
>
> Business Expenses , mine's called.
> Liz
>
> --
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> - Darth Vader
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-- 
Maf. King
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