Clarity Accounting Help - Latest Comments in Transfers

Re: Transfers

dobes_vandermeer — Mon, 16 Mar 2009 17:11:24 -0000

Hi there,
It sounds like your personal bank account is not being tracked accurately with
its counterpart in the accounting software. If it were, then the personal
bank account would have a positive balance you would be using to pay the
credit card off. If the personal credit card is also not fully tracked by
the accounting system you might as well not record anything - the business
wasn't involved so it doesn't need to show up on the business' books.
Otherwise, you'd want to pay off the negative balance by paying yourself;
see the article on getting owners' money in and out of the business for more
about this:

https://www.clarityaccounting.com/help/index.ph...

Re: Transfers

daehee — Mon, 16 Mar 2009 07:34:01 -0000

Hi, what would you do in the case of paying off a personal credit card (cash) with a personal bank account (cash)? I would assume do a transfer between the two, bu then the personal bank account (cash) goes negative. Is this the correct way to account for this?

Thank you for your help.

Re: Transfers

maychu — Thu, 06 Nov 2008 15:13:12 -0000

If there is any thing else you would like to know about bookkeeping / accounting related things, send us an inquiry and we might just write up something for you :)

Re: Transfers

Money Transfers — Thu, 06 Nov 2008 13:01:14 -0000

Thank you for this info. It's good to gain as much knowledge as possible when it comes to financial issues.