company invoices from director - Accounts Payable

[doncram]

For the accounts of the company, I think an account name like
"Liability:Loan from Marc Johansson" would be fine.   If you paid for an
expense and put some money into the company's checking account the entries
would be like:

Utilities expense                           35.00
        Loan from Marc Johansson              35.00
Bank of Scotland checking       200.00
        Loan from Marc Johansson             200.00


If you later "donated" the money you had put in, then you'd record the
donation as:

Loan from Marc Johansson     235.00
          Equity                                                 235.00

Or maybe you'd use a more specific equity account like "Equity-Marc
Johansson".  Hope this helps.
--Donald Cram

On Sun, Jul 30, 2017 at 12:29 PM, Finance (Marc) <finance at maxm.xyz> wrote:

> Good afternoon,
> I have what is really an accounting question, but I can’t find the answers
> in my book-keeping textbooks (probably due to still being very much a
> neophyte).
>
> I have formed a private limited company here in Scotland, but shelled out
> some money on my personal credit cards for it before it was actually
> incorporated.  In the accounts, I am trying to work out how to best record
> money I have shelled out until such time as it can maybe pay it back (or
> write it off as a donation from director).
>
> In my accounts structure I have various ‘Liabilities’ accounts, but I also
> have Accounts Payable.  My question is: for each invoice I’ve raised from
> me to the company, should I post these under Accounts Payable (with a
> corresponding cross-post to Equity - Opening Balances, because we’re
> waiting on the bank account), or should I be chucking them under an
> insecure liabilities account?
>
> Can someone advise me on the practicalities:  what are the two accounts
> for these types of transactions?  I understand double-entry accounting; I
> just can’t seem to work out what the right mix is for these…
>
> Thank you,
> Marc Johanssón.
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