HI,
I have made intial set up everything went well. Now i have to setup my loan account.
This is an bank loan account(overdraft so there is some transactions).
In future all my cash receivables and payable via this overdraft account. so i created bank account in manager.
Read few guides in manager it was not working for me.
I dont know how to bring in the cash. Do i need owners equity or capital account?
i made a bank transaction like withdraw some money from loan account, (how to post my transactions)
@NIZ, your post is a little confusing. If this is a loan to your business from outside, create a liability account for the loan. Then record a receipt, posting the proceeds of the loan to the liability account.
If this is money you have invested in the business, then yes, you need to post the receipt to an owner’s equity or capital account, depending on your legal form of organization.
But you also mention cash receivables and payables being via this account. Cash transactions must be entered in the Cash Accounts tab, not into bank account.
More specific details would help give better information.
Have you created this loan/overdraft account under the Bank Accounts tab, if no, then you should as that is the only way to have “receivables and payable via this overdraft account”.
An overdraft account operates within Manager in exact same way as any other bank account accept it generally has a negative balance. If required you can have the overdraft account appear under Liabilities by using Custom Control account (read the Guide).