How to add personal money to small business

Eric Anopolsky erpo41 at gmail.com
Sat Apr 5 00:58:42 EDT 2008


Do you use one account for draws and cash infusions, or two separate
ones?

Cheers,
Eric


On Fri, 2008-04-04 at 20:34 -0700, Beth Leonard wrote:
> According to our accountant for our sole proprietorship
> the transfer account for this type of bank deposit is
> Equity->Draw.
> 
> --Beth
> 
> On Fri, Apr 04, 2008 at 01:30:02PM -0700, Myrion wrote:
> > 
> > Hello,
> > 
> > I can't seem to find an answer to this seemingly easy question:
> > 
> > I am using GnuCash (2.2.3) to keep records for my small business. However,
> > as with many new small businesses, the income I generate isn't enough to
> > cover the expenses. Therefore I must put in some money I generate from my
> > normal day job (which is a bi-weekly paycheck that has been taxed). 
> > 
> > So I guess my question is:  Since my day job income isn't part of my small
> > business income, where do I place it in GnuCash so that it is just there to
> > cover expenses that I have to pay? I deposit cash into my Business Checking
> > account so that I can cover the expenses of the business. Remember, this
> > isn't actually income from the business though, and it has already been
> > taxed through my employer. 
> > 
> > Whenever I try to just make a deposit into the Business Account in GnuCash,
> > it wants to know from which account I'm drawing these funds. But since it
> > isn't an account, it's simply outside cash being deposited, this is where I
> > get confused.
> > 
> > Any help would be most appreciated!
> > 
> > Thanks!
> > 
> > -- 
> > View this message in context: http://www.nabble.com/How-to-add-personal-money-to-small-business-tp16498307p16498307.html
> > Sent from the GnuCash - User mailing list archive at Nabble.com.
> > 
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