Hi Marc,
Don has answered your first question fairly completely. Whether you treat
payments you have made on behalf of the company as a loan or a contribution
to equity really depends on your intention to pay back the amounts and the
timescale on which you intend to do it.
If it ASAP (e.g. you a
On Sunday, 30 July 2017 20:02:43 BST Finance (Marc) wrote:
> Ah; thank you, Donald!
>
> So, to confirm, the two "halves" of the equation are "Loan from so-and-so"
> and the relaxant Expense account?
>
> It's all clear when you know how!
> – Marc.
Sounds right to me - it is what I've done for yea
Ah; thank you, Donald!
So, to confirm, the two "halves" of the equation are "Loan from so-and-so" and
the relaxant Expense account?
It's all clear when you know how!
– Marc.
On 30 Jul 2017, 18:34 +0100, doncram , wrote:
> For the accounts of the company, I think an account name like "Liability
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
