Comments for Loan Myself Money

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May 31, 2011
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My Thoughts
by: Henk

I don't use quick books myself but I'm sure there isn't all that much difference between software vendors.

I would look under EQUITY for 'Owners Contribution' and 'Owners Withdrawal'

To put the money into the business

Dr Cash (or Checking account)
Cr Owners Contribution

To take it out again

Dr Owners Contribution (which will clear the account
of the original amount entered)
Cr Cash (or Checking)

I suppose you could Debit Owners Withdrawal but now you would have an outstanding balance in both accounts

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