Transfers from outside accounts
Mike or Penny Novack
stepbystepfarm at mtdata.com
Sun Feb 8 21:58:35 EST 2015
>> From: EngineInstitute <info at chinablueart.com>
>>
>> The partner is making it a loan to the company.
>> How do I post this?
> I'd create a new account of type "A/Payable" or "Liability" just for his transfers. Our co-op has several such accounts for members who loan the co-op money.
>
Please get professional advice. We can help you with HOW to do it using
gnucash but not WHAT you should be doing according to partnership laws
for your jurisdiction.
For example, it might be a very different situation (for a for profit
partnership; partners investing in the expectation of gain) than what
was just described for this co-op (that wouldn't be the case and perhaps
these lenders not treated differently than outside lenders who are not
co-op members).
Michael D Novack
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