Capital Introduced by Partners

Question asked by Elain Higlett 1 year ago

Please can you clarify how capital introduced into a partnership business bank account should be recorded. There is nothing that I could find in the Help Guides and the forum has a few options as follows based on queries answered:

  1. Set up a DLA, although technically not correct as a partner is not a director.

  2. Set up the partner as a customer/supplier and use that account.

  3. Set up loan account.

I have set up a Capital Introduced Account in the Equity section when I added the opening balances - I just want to make sure I record the transactions correctly as they happen.

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1 Reply

Hi Elain,

You can input this by setting up the partner as a customer/ supplier, then head to Money > Bank accounts > Money In > Fill in the details > Then select the Partner as the contact and the Capital Introduced account.

Alternatively, if you are trying to input the Trial Balance, then you would head to Money > Opening Balances > Other balances and input them here.

Tommy

Best answer
1 year ago

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