Using personal cash for expenses

kp63 at exemail.com.au kp63 at exemail.com.au
Fri Oct 11 17:30:15 EDT 2013


When I first started my business I paid a lot of the expenses through my own
personal accounts as well as cash instead of through the business account.I
am having great difficulty trying to work out how to record this through
GnuCash. I've come across a variety of different approaches on the forums
but non seem to make sense.
Even if I set up an Equity account and pay the bills from there, how do I
pay into the account from an external source?...the drawing account?
Why can't I just pay all the bills directly from the drawing account and
then transfer funds from the bank account to the drawing account to keep a
balance? If I do this... Doesn't it misrepresent expenses for profit?
Totally lost!

Also, when I post my invoices (and they go into accounts receivable) and
then I pay the invoice I get a double deposit into my bank account. What
have I got set up wrong?
 
Any help most appreciated,
 
Karen
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