How to I record withdrawal of owners equity from my business ?
Hi Petra,
If you are self-employed (not a limited company) then create a General Transaction from the 'Cheque Account' to the 'Owners Drawings and Personal Use' account.
Regards,
How to I record injection and withdrawal of owners equity from my business ...
... if this is a limited company
Hi Andreas,
A limited company allows for the injection of equity by selling shares. In this case record a General Transaction from the Share Capital account to the Cheque Account. The withdrawal of equity is done by issuing dividends - see this page for details of how to record this:
http://www.solaraccounts.co.uk/help/how-to-record-a-dividend-payment.php
If you are the director of a company and receive or deposit company funds, you may choose to record this as a directors loan. In this case create a General Transaction between the Directors Loan Account and Cheque Account. Note that this does not affect the Equity balance of the company.
Regards,