Giving own computers equipment to company?

1

Hi,
When I started my company I gave two computers and two mobiles phones into the company. I gave this as investment/loan. I want to take money out of the company for these 4 products now.

how do I record this into manager?

  1. All 4 products will have their depreciation.
  2. Will they go under computer equipment in expenses?
  3. In that case, how do I record as the loan? or investment?
  4. When I take their money out of business how this is recorded?

Thanks

2

  1. Items that are depreciated are not expenses. They are fixed assets. Only their depreciation is a current expense. See these Guides:
    Manager Cloud
    Manager Cloud

  2. No. See answer to #1.

  3. Since no company money was involved in the purchases, enter the purchases of the fixed assets (after creating them) with expense claims. See this Guide: Manager Cloud. Depending on how your chart of accounts is set up, the expense claim will either create a liability associated with the payer (you) or directly credit your capital account. If you are using a capital account, see: Manager Cloud.

  4. Using either a bank or cash transaction, spend money. Post the transaction to the Expense claims liability account, your capital account, or Owner’s equity. Again, this depends on the structure of your chart of accounts.

3

Hi Tut
While I am reading the guides you shared, I want to say thank you for your time in writing a detailed reply.
I may have more questions a bit later… thanks again