Quick Start Manual

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Manual

Intro
BizFusion Trial
User Interface
Contacts Module
Products Module
Discount Rules
Inventory Module
Sales Module
Purchase Module
Bills & Receipts
Projects
Subscriptions
Credit note / Returns
VAT Module
VAT over margin
European Trade
Foreign Trade
VAT Shifted
US Sales Tax
VAT Correction
Manufacturing
Assets Module
Current Account
Accounting Basics 1
Accounting Basics 2
Accounting Advanced
Year End
Owner Equity
Income Tax
Banking Module
Payments
Loans
Financial Lease
Cross Payment
CSV Statement
Data Import
Data Export
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Current Account (C/A)


The owner of a company often uses private funds to pay for corporate expenses.
The company needs to reimburse the owner for these amounts.

But the opposite can also happen.
Sometimes, the owner of a company uses corporate funds (bank/cash) to pay personal expenses.
The owner needs to pay this amount back to the company.

Loan
In both cases, there's a temporary loan that needs to be repaid.
These temporary loans are registered on the Current Account.
How long is temporary? Temporary loans usually have a duration of 30 days.
No interest is charged on these temporary loans.

Limit
The Current Account also has a limit. This amount differs per country.
In the Netherlands, the Current Account cannot exceed 17,500 euro (positive or negative)
(source: web site Dutch tax agency 2015).

Balance
The Current Account is a liability and can be found on the right side of your balance sheet.
A positive amount means that the company owes the owner money.
A negative amount means that the owner owes the company money.




Owner Withdraw/Deposit


The owner of the company can also withdraw money from the company.
In certain cases the owner needs to deposit money in the company.
E.g. the owner is responsible for company losses and needs to replenish the 'Company Equity / Capital'.

This is *not* a loan. The withdrawn or deposited amount will not be paid back.




Transfer Voucher


You use a transfer voucher to register an 'Owner withdraw/deposit' or 'Current Account transaction'.

Go to: 'Accounting > Transfer Voucher' and click on 'New Record'.

Transfer type provides several options that you can choose from.

Are you registering an 'Owner withdraw/deposit'?
Choose one of the following options:

- Owner bank withdraw
- Owner cash withdraw
- Owner bank deposit
- Owner cash deposit

Are you registering a temporary loan or repayment of a temporary loan?
Choose one of the following options:

- Cash to Owner
- Bank to Owner
- Owner to Cash
- Owner to Bank

Click on 'Save and Post'.

Example of a posted 'Transfer Voucher'.


The payments are automatically posted on the voucher when you save the document.

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