Owners transfer coding

Hi DC71 

 

Thanks for your post. Generally speaking, if funds are physically transferred from the business bank account to a personal bank account you could record a Spend money transaction. Select the business bank account in the Pay from account field and allocate it to an Owner's drawings (equity) account or Directors Loan (liability) account.

 

I would recommend speaking to your accountant about the allocation account to ensure it is correct for your business set up.

 

Please let me know if you need further help.

 

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