1 Topic by hoohoo

(1 replies, posted in Banking and General Ledger)

Hi,

How can I handle personal drawings/contributions e.g. the owner transfers money from his private bank account to his business's account.

Wouldnt I need a neutral class type account which, depending on its balance, would be a deduction from/addition to retained earnings (directly and at year end closure)?

Regards
Jo

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2 Reply by hoohoo

(2 replies, posted in FA Modifications)

no problem at all!  nonetheless, make sure to backup the table...

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3 Topic by hoohoo

(2 replies, posted in FA Modifications)

Hi,

I am afraid I cannot avoid setting up my GL accounts from scratch. I have initially downlaoded a set from the download section but these are obsolete.

So, do I get any trouble if Id clear the master table (sorry, forgot the name) for the GL accounts in myAdmin? Or are they linked somewhere else?

Thanks in advance.

Kind regards
Jo

Go to forum: FA Modifications

4 Reply by hoohoo

(2 replies, posted in Banking and General Ledger)

Awesome, thanks a lot Joe. I could successfully (at least I hope so) finish setup.

btw. that link is awesome. It goes way beyond accounting - and it is for free yikes

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5 Topic by hoohoo

(2 replies, posted in Banking and General Ledger)

Hi,

I am in the "system and general GL setup" and I think it is rather a language thing:

I need to specify

- Retained Earnings. Q: there is a billion translation for retained earnings. what does it refer to? eg is it when you move profits from assets to claims in the balance?

- Profit/Loss Year. Q: Huh? Shouldnt that be calculated resp. consolidated within the equity?

- Sales Account: Sorry, I have no useful translation for this. What does this cover? Or whats the difference between it and receivables?

Thanks in advance.

Regards
Jo

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