As others have said, you will want to talk to a CPA about how your
books are set up. I'll share how I have mine set up.
I also have a sole proprietorship/LLC with its own EIN. That entity has
its own set of books in GNUCash. The LLC has its own bank accounts and
credit cards. The preferred
Tim
It is usually good practice to keep your personal accounts and business
accounts separate and that usually involves having a separate bank
account for business transactions. There is sometimes a grey area when
you are setting up a business.
Where you pay bills, which are bills of the
Liabilities and Accounts Payable are not Equity type accounts so they
don't belong there. They both are of type 'Liability' generally and
belong in that part of the tree, but specifically, the Accounts Payable
account is the special type 'Accounts Payable' in the GnuCash Edit
Account dialog.
I started down the path of setting up accounts payable to hold the bills that
my sole proprietorship sends to me which I then pay. I created a first bill,
assigning the line items to various expense accounts in my personal books,
which is where I want those line items to be allocated. I'm
