Q. We are a new Market Center. My OP opened a money market account about seven months ago with a beginning balance of $2,500 which he paid out of his capital account. His capital account is a personal account and not a KW account. How do I show this initial deposit?
A. The opening deposit will be coded to Paid in Capital 3-1500. You can book it under Receive Money. Any other items paid for by your owner’s personal account will also be booked into Account Edge. Please see the Start Up Checklist for details on how to record all out-of-pocket market center expenses.