Pay Accounts Payable from Owner's Contributions

[dniezby]

Derek Atkins wrote
> 
> One way would be to Process Payment from the bank account, and then
> change the account to the Equity account.  Just make sure you don't
> change anything else about the transaction, but changing the target
> account from Bank -> Equity is just fine.
> 
> 

Derek makes a good note. This is true. Any money you put INTO the business
is Equity.  So it's more ownership of the company.  You would also have to
make sure that the deposit counts toward your Equity in the company.  

I've been using money from my company. So I've created an accounts
payable:Loan to Officer account.  Then when I make deposits, they debit that
AP account.  I suppose that once it's paid off, I would have no choice but
to create an Equity account for "Owner Contributions" and start debiting /
crediting that account.

I LOVE THIS BOARD!  Helps you see everything that's going on.  Otherwise you
can get tunnel vision.  I didn't even see the Equity approach until Derek
pointed it out.

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