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Lucian1's avatar
Lucian1
Contributing User
2 years ago
Solved

transferring balance from CASH DRAWER acct under assets to Director's loan liabilty acct

hello when i first setup my asset accounts, i used CASH DRAWER acct to pay for company expenses out of personal acct. then i found out i can actually set up a DIRECTOR"s loan liabilty acct.  Is it t...
  • Princess_R's avatar
    Princess_R
    2 years ago

    Hi Lucian1 

     

    Thank you for your response. 

     

    If you do combine or transfer balances from one account to other account this will not affect your balance sheet. If you will not be using the Cash drawer accounts you can combine this to the new account. You may refer to our Help Article, Combining accounts, that has detailed information to assist with this.

     

    Please feel free to post again I'm happy to assist.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

     

    Cheers,

    Princess