Equity and Draw for an LLC (S Corp)

Ben Ba benbarszcz at gmail.com
Fri Nov 9 14:59:21 EST 2012

Hi Dear list,
Two partners started a taxi company. Registered as an LLC and elected the S
Corp Status.
GnuCash permits to track Equity.

How to start the books with GnuCash?
Partners bought two cars which cost $20 000. Where and how to register it
with gnucash?
Is it going to be:
Equity ->Assets

or perhaps
Liability -> Assets

or maybe Liability -> Expense

Thank you for any hints.


saludos cordiales

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