mixing business and personal

[Mike or Penny Novack]

On 7/11/2017 3:03 AM, Gio Bacareza wrote:
> Hi,
>
> I have used gnucash initially to track household expenses. So my flatmate
> and I would contribute. We track what the transactions are for and also
> keep track of contributions so we know that we both contribute equally.
>
> Now that we are also going into a small business, I'd like some tips on
> what the best practices are.
>
> Should I incorporate the business transactions into the original file?
> Or should I create a different file for business?
>
Separate books by all means. Do you need some reasons? Imagine down the 
road, this little business has become a success, and you are in 
negotiations to sell it. The prospective buyer would want to see the 
books, yes? But no reason to be able to look at YOUR books. I could go 
on giving other reasons.

Michael D Novack

-- 
There is no possibility of social justice on a dead planet except the equality of the grave.