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Free Accounting Software Forum - Journal entry at the start of a new business

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23/12/2013
Hi,
I have already entered some transactions but confused how to enter stat up capital could please help. For example start up $95000 out of this $80000 borrowed fund $15000 owner contribution. How do you enter this?
Thanks, Mos
25/01/2014
Hi Jara,

Cash Received. If it's borrowed funds then select an account like loan payable to whoever. You may need to create the account. If it's equity and it's a company then you would pick issued capital as the account. An owner contribution could be equity or loan (also depends on the legal structure).

Regards,

Glen
 

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