Account layout for a personal business

trythis grahamlane at gmail.com
Mon May 3 20:22:18 EDT 2010



Mike or Penny Novack wrote:
> 
> But the question is, why would you WANT to do this? Why would you want 
> to co-mingle your business accounting with your personal accounting?
> 
> 
It isn't worth the expense and hassle to open yet another bank account, pay
the fees and then have to transfer money from one to the other all the time. 
I am often in a situation where I need to buy something when there is no
money in the business assets, and I have to use the personal checking and
visa-versa.

I rarely produce reports, except once a year for taxes and its pretty easy
to select what I want to report with the system I set up.

If I start making enough money to make it important, I will hire someone to
do this for me and toss the whole thing to them anyway.
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