TIP: Click on subject to list as thread! ANSI
echo: quicken
to: CAROL JONES
from: ALAN JENNINGS
date: 1995-08-27 18:55:00
subject: Small Business

 > have a home business and
 > would like to set up its books on Quicken.  My
You'll only need a couple of extra accounts...
An asset account in your personal books named something like "LOANS TO 
BUSINESS",
A liability account in your business books names something like, "LOANS FROM 
OWNER"
To be most correct, you would be better off depositing funds into a separate 
account for your business and then paying business expenses from that 
checking account.
If you do pay a business bill from a personal account, when you enter the 
transaction in your personal books, you'd show it as a transfer to the asset 
account. Then, you'd post an expense transaction in the "LOANS FROM OWNER" 
account of your business books.
Lots of ways to do it, but it is always best to minimize the incidents of 
co-mingling the funds. But when it happens, good accounting is the real key 
to affording yourself accurate information which is easy to substantiate if 
audited.
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