Beginners question, confused between real bank accounts and gnucash accounts
Dale Alspach
alspach at math.okstate.edu
Thu Mar 24 14:59:38 EDT 2016
Disclaimer: I am not an accountant.
A way to think about this is to pretend that you had a separate set of books
for your business and for your personal expenses. Then think of yourself as an
employee. Paying an employee would be an expense of your business. So you are
missing an expense account.
I would setup an expense account for your business with name something like
Distributions to owner
Each time you draw from the business you record a 4 line transaction:
credit Business checking
debit Distributions to owner
credit Income salary
debit Personal checking
Dale
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