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Lisapapa1173's avatar
Lisapapa1173
Contributing User
8 months ago

Finance for Expenses vs Finance for Capital

Hi Just wondering when record  Finance for Expenses (like getting a loan to pay for business insurance)  same as  Finance for Capital (like getting a loan to buy a printer) or not?   Cheers  
  • Princess_R's avatar
    Princess_R
    8 months ago

    Hi Lisapapa1173,

     

    Thank you for your post.

     Great question! The distinction between financing for expenses and financing for capital can have significant implications for your business's finances. Since this topic delves more into accounting specifics, it would be best to consult with your accountant for personalized guidance. However, here's some articles and posts that you may check that will provide guidance.

    Feel free to post again if you need further assistance.

     

    If my response has answered your inquiry, please click "Accept as Solution" to help other users find this information.

     

    Cheers,

    Princess

Lisapapa1173's avatar
Lisapapa1173
Contributing User

Thanks🌹
The only thing I did differently today is I used PAY BILL instead of SPEND MONEY.  I don't know if it is ok.

MikeG1's avatar
MikeG1
Admin
7 months ago

Hi Lisapapa1173, thanks for following up. You will need to speak with your accountant to determine if this is the correct action for you and your business sorry. MYOB is unable to provide advice on this matter as it is an accounting question rather than a software question. Thanks, Mike

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