Loans From Owner From The Before Times

VEGriffithVEGriffith Member Posts: 2
I am separating my personal from business books.

I have a number of durable purchases and investments that I paid for out of my personal accounts, in the Before Times when I didn't have Wave. I have receipts.

I want to book these transactions as a loan from the owner, not as a capital injection, but I also don't want it to affect my bank account because there is no cash coming in.

How can I accomplish this? Do I need to create a dummy account and then dummy transactions reflecting the purchases?

Comments

  • VEGriffithVEGriffith Member Posts: 2
    BTW, links to how-tos are fine. Thank you!
  • JulianPJulianP Administrator Posts: 1,002 admin

    Hey @VEGriffith !

    I'm having difficulty understanding your issue as a whole. Correct me if I'm wrong but it sounds like you are trying to record business expenses that were made with a personal account. If that's the case, you can use the "Owner Investment/Drawings" category for your transactions to record this in your Wave account. This category serves multiple purposes. You can learn more about this here.

    When it comes to recording a loan, you can do so using traditional income and expense transactions or by creating journal entries. However, I'm not sure this workflow is ideal for your case. Feel free to check out the above links to help you determine if this will assist you with your desired outcome.

    With that being said, if I missed the mark, please don't hesitate to reach back out with additional information further clarifying the issue at hand.

    edited May 31, 2021
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