Where to record business equity in your personal books

[DaveC49]

Hi Adrein,

I apologise if my comment appeared a bit flippant. The intention of my
comment about choosing any name was really that the actual name is less
important than the structural aspect of it being an asset account. The
general expectation would be that an investment in a business would
hopefully be an asset rather than a liability otherwise it would be very
unwise to make the investment in the first place. 

As long as the name is descriptive of the function of the account, then as
Liz has pointed out, it can be easily renamed should your accountant wish to
use a name that fits better with local accounting/legislative practice.

The beauty of standardized names is however that one can quickly make sense
of and understand a balance sheet or profit and loss statement produced by
someone else which is important for public accounting but perhaps less of an
issue for one's own personal accounts.

Cheers

David



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