Just having trouble.
I have the following steps in place to maintain personal drawings.
Step 1: Any personal transaction are transfered to a dummy bank account Called Personal
Step 2: any owners contribution is done as a tranfer.
Step 3: At the end of the financial year we go into the bank account “Personal” and spend money as drawings. (Equity - Drawings"
But any entries into this account come up as a negative. so my equity is - 58000
How do i fix this.