In the personal accounts if you have expended money on items for the business it creates a Liability for the business and in your personal accounts by expending money from your bank you are creating an asset. You would record a purchase as follows
Personal Asset:PersonalBankAccount Cr xxx Asset:Reimbursable Dr xxx in the Business account, the purchase would appear as Liability:Reimbursements Cr xxx Expenses:... Dr xxx When you transfer money from your business bank account to your personal bank account to reimburse yourself in the Buisness accounts it appears as Asset: BusinessBankAccount Cr xxx Liability:Reimbursements Dr xxx and in your personal accounts Asset:PersonalBankAccount Db xxx Asset:Reimbursable Cr xxx You would put notes in the description and/or memo section in each to make it clear that it was a purchase of an item for the business from your personal account in the first case and reimbursement of that in the second to keep the tax man happy. (The reverse if you expend business funds on a personal item.) David Cousens ----- David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
