Duplicated accounts/which accounts to use
I think some of my accounts maybe duplicated and I'm not sure I've set this up right. Please advise...
I have a petty cash account called "owner drawings & personal use". In the capital container I have account for "capital introduced" and an account called "drawings".
When I pay bills from my personal account on behalf of the business this is the same as capital introduced and when I am repaid back to my personal account this is same as Drawings. Why do I need the petty cash account that you advised I use?
Also, what would I use the "out of pocket expenses" account in the creditors container used for? Surely this is a duplication of the above?
Please help, I'm getting confused.
Vic
Discussions are closed to public comments.
If you need help with Easy Books please
start a new discussion.
Keyboard shortcuts
Generic
| ? | Show this help |
|---|---|
| ESC | Blurs the current field |
Comment Form
| r | Focus the comment reply box |
|---|---|
| ^ + ↩ | Submit the comment |
You can use Command ⌘ instead of Control ^ on Mac
Support Staff 1 Posted by Mark on 17 Apr, 2013 10:26 AM
Have you got an accountant? This is the best option for this advice, I'm afraid.
Best wishes
Karen
Vic closed this discussion on 25 Apr, 2013 08:32 PM.