Purchase businees things from personal bank account

lana265

Hi,

I have just started my own business and trying to sort the books out. When I started the business I purchased things such as a website and stationary using my own personal bank account as my business had no money. But for the life of me I cant think of how to put this in my books.

Would I CR-capital account with the amount. DR-bank with the same amount. And then CR- bank with the purchases I made. DR-purchase account???

Even tho I did not use my business account to buy them?

Any help would be great

Thanks

coojee

lana265 wrote: »

Hi,

I have just started my own business and trying to sort the books out. When I started the business I purchased things such as a website and stationary using my own personal bank account as my business had no money. But for the life of me I cant think of how to put this in my books.

Would I CR-capital account with the amount. DR-bank with the same amount. And then CR- bank with the purchases I made. DR-purchase account???

Even tho I did not use my business account to buy them?

Any help would be great

Thanks

DR expense and CR Capital. No need to use the bank account, the DR and CR entries would only cancel each other out anyway.

lana265

Thank you for the help, your a life saver