Hi there,

Im using this software which is really beautiful. I want to transfer funds from my business self emplyed account to personal. Could you please tell me how to do that, Should i put my name in supplier category and expense category.

Thanks
Aaron

Hi Aaron,

The simplest approach is to create a General Transaction from the 'Cheque Account' to the 'Owners Drawings and Personal Use' account.

Regards

Thanks for your promopt and what if i need to transfer from personal to business account.

thanks alot.
aaron

Hi Aaron,

In that case just create another General Transaction in the opposite direction - ie. from 'Directors Loan Account' to 'Cheque Account'.

Cheers

Thanks for your help.

But I can't find Directors Loan Account option anywhere.

Could you please tell me, does it come under assets category?
If yes I can add it.

Thanks
Aaron

Hi Aaron,

Sorry my mistake - I thought your business was a limited company. Since you are self employed, record it as a General Transaction from the 'Owners Drawings and Personal Use' account to the 'Cheque Account'.

Regards,

Perfect! Thanks alot for all your help.

Hi there,

Im sorry for so many questions. As I buy this software and I'm adding all my accounts from April 2012 todate:

I have few more question I will be very thankful if you could help me with that.

I make payment to my web developers sometime by western union and sometime direct from cheque account I have list of developers under my supplier list. Could you please tell me how to record the transaction and how to record the transaction fee.

second question:
I also have money booker account where I heve credit. Should i add under assets category.

Thanks alot
Aaron

Hi Aaron,

Record your payment to web developers as a Money Paid Out transaction like this:
http://www.solaraccounts.co.uk/help/how-to-record-an-expense.php
(I assume that when you make a Western Union payment the money comes directly out of your main bank account).

You can treat your moneybooker account as an extra bank account. Create it in Solar Accounts by clicking menu File > New > Account, and selecting Account Type 'Asset'.

Regards