New user - do I need to set up my personal accounts as a business?

[slpaul]

Hi
I've been through the guide and forums but I'm still not sure how best to
set up my accounts. Any help would be appreciated.

I've a personal bank account and joint account (shared with wife). The joint
account sometimes receives money from friends/partners (5 other people) in
an informal property venture, which is then used to pay bills on the
property. Sometimes I'll pay someone's share of a bill, which I need to
collect later. I need to record what bills the money has paid, who owes
what, what bills need paying, etc.

Additionally,I sometimes borrow money from the joint account and/or wife's
account (and vice versa), which needs to be recorded and repaid.

A full set of business accounts seems overkill (and time consuming) but the
standard 'personal' setup doesn't seem up to the job (or I'm missing
something (probably the case)).

Thanks.



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