Using GNUCash for commercial property held by LLC - Some newbie questions

Liz edodd at billiau.net
Mon Sep 26 01:53:53 EDT 2016


On Sun, 25 Sep 2016 20:44:49 -0700 (PDT)
replicon <replicon at gmail.com> wrote:

> 1) How do I account for things I've had to pay for _before_ our
> business checking account was available? This includes setting up
> insurance, and some parts of the downpayment that weren't handled by
> the loan. I'd think of them as expenses. They were 'personally' paid
> for (from my personal checking account, which will NOT be part of
> this separate gnucash file), so to properly show where the business
> is, it would have to reflect that it's in the negative. Question is,
> what account should I create for the double-entry part? It's almost
> like I need a dummy account to hold that negative balance.

I have an account which is a loan from me to the business.
What you call it doesn't really matter but you need a corresponding
account in your personal accounts so you can check that the balances
are equivalent (same value, different sign).

This same concept works for your number 2, as I am still using
my "Internal Loan" over 20 years later. Sometimes its just easier to
pay from personal funds and repay from the company.

Liz


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