If the credit card and debit card (presumably there is a personal savings account() are personal accounts and not owned by the business entity then they should remain in your books.
If the business account is owned by the business and is not a personal account then it should be in the books of the business. You also own the business. I would set up an account in Equity in your personal accounts "Contributions to xyz business" and a similar Equity account in the business books "Owners contributions". When you purchase something for the business you credit your personal bank account and debit the "Contributions to xyz business" equity account in your personal books. At the same time you would credit the "Owner's Contibution's" account debit the appropriate expense account in the business' books for the amount of the purchase. If you want to be a bit more Kosher you could setup an Asset account for "Owners contribution's in the business books and debit that on the transfer rather thn the expense account directly and record the purchase subsequently as a credit to the Asset:Owner's contributions and a debit to the requisite expense account. Use the notes section of the transactions to document what has happened. I did this many years ago when setting up a business in MYOB before my accountant was on board and he did not complain when I presented it to him. On Sat, 2025-01-18 at 20:48 +0000, arthur brogard via gnucash-user wrote: > > I have a personal set of books which includes credit card, debit card > and business account. > Now I want to create a new set of books just for the business. which > is very small, no trades at all as yet. > But monies have been paid into it and out of it: owner's equity, > fees, charges. > So I believe I could export the business account and transactions and > import it all into this new set of books, right? > So would that mean I also need the credit card and debit card > accounts to exist in the business books? > Otherwise they would become orphan transactions.. > So few I can do it all manually, one at a time. But I'm seeking to > have an understanding of the 'proper' procedure. > gpt and deepseek are not helping. :) > > > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
