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Updated over 6 years ago,

User Stats

268
Posts
106
Votes
Simon Stahl
  • Rental Property Investor
  • Oakland, CA
106
Votes |
268
Posts

How to record money transfers to a business account

Simon Stahl
  • Rental Property Investor
  • Oakland, CA
Posted

I am opening a business account for my LLC with the intention to buy rental properties. After the account is open, i would like to move some money from my personal account into it. I will probably want to leave it there for a while, but at some point I want to be able to pull it out again. Everywhere I read about this, they say that you have to record all the money transfers from my personal into the business account as either loan, contribution or equity. The one thing I don't get is where do I have to record it? Can I just do it in a spreadsheet? Also why would i choose one type over the other (equity, loan, contribution)?