Which category should I use for the opening balance on personal accounts?
erinmichael
Member Posts: 2
I am trying to figure out which account category to use for the opening balances of my personal credit card and bank accounts. Owner Investment/Drawings doesn't seem right because the money did not come from my business; they are just previous balances on my personal accounts. Should I use Personal Net Worth? Or make a new income or equity account called Opening Balances?
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Replying to this old post to help others who happen to stumble across this post - like me.
See this post: https://community.waveapps.com/discussion/comment/35680#Comment_35680