On 2021-12-09 11:04, Gyle McCollam wrote: > If the loan is to the company, as stated in your original email, it is a > liability of the company. Stan is incorrect, but if the company makes a loan > TO the director, then it would be an asset of the company and he would be > correct.
But the OP said: >... as I thought that was the closest thing to allowing money to be >moved out of the company, into my personal bank account. >When I tried to pay myself using GnuCash, I was expecting money to go >out of the company bank account,into my personal account, and reduce >the company's liability. However when I set up a bill, I could see it >was only possible to bill this as assets or expenses - *not as a >liabilitiy*. Does this mean I need to set up another account for >expenses? "money out of the company into my personal bank account" -- that seems pretty clear to me that the company is lending the director money, not the other way round. -- Stan Brown Tehachapi, CA, USA https://BrownMath.com _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org 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.
