In New Cash Account i created cash a/c with starting balance 2 lakhs on 01-04-2017. Now i want to add another 4 lakhs on 12-06-2017…how to do that???
dcVest
June 12, 2017, 8:19pm
2
If you want to modify the starting balance of the account, click on the Cash Accounts tab, and then click the Edit button beside your cash account. You can modify the opening balance there.
If you want to add additional money to your company, search the forum for Owner Contribution. Here are a couple of examples:
However, please note that opening balances are only used when making the transition to Manager. The opening balance in any account, cash or other type, should be adjusted to the balance reflected in your previous accounting system. If you are starting a new business and making a deposit of cash for operating purposes, you would need to Receive Money in the account and allocate the contribution to owner’s equity or capital, depending on your legal structure.
Do you intend for the Money to stay in the business or be repaid at a later date?
If you are a sole trader and plan on leaving the money in the business then Receive Money and the account allocation would be to a BS Equity account - Capital, Owners Contribution etc.
If you are a company or a sole trader who is only loaning the money then Receive Money and the account allocation would be to a BS Liabilities account - Owners Loan, Shareholders Loan, Bridging Finance etc
There is also a guide that may help you: Simple equity accounting for sole traders/proprietors
Under Cash Accounts tab, click on Receive Money.