Accounting Help? (GnuCash 2.6.11)

[Rafael Sánchez Treviño]

Hello Greg,

I would say that you need to make a credit to an account payable (you) and
then a debit. I mean, it is like you are lending money to your business (so
it owes you), then you will debit that account when the business pays you.

For instance:
1.
Cash      100
                      Accounts Payable:Greg 100  (This is a liability
account)
Loan to buy this fancy equipment

2.
Accounts Payable:Greg 100
                                        Cash 100
To pay back the loan.

Let me know if that helps. Regards


On Wed, Mar 9, 2016 at 5:56 PM, Greg Feneis <mfeneis at gmail.com> wrote:

> Hi Folks,
>
> I've got this small business
> ​(sole proprietor, cash basis) ​
> and I converted from Quickbooks back at the beginning of 2013.
> ​  So far so good, I think, except I'm not certain I'm accounting correctly
> when I add my personal money to the business in a case where my business
> needs an expensive piece of equipment and there's not enough in the
> business checking account to cover it.  Also, when I pay myself from the
> business checking account, how should that be correctly accounted for?  ​
>
>
> ​Thanks!​
>
>
>
>
> Kind regards,
>
> Greg Feneis
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-- 

Rafael Sánchez Treviño
C. 818-010-6040