I use MYOB Essentials for a business trading through a Family Trust, and the trustee and business owner pays many business expenses via his own personal cash and credit card. To date I've been recording these payments through journal entries, crediting the beneficiary drawings account (liability account).
Is there are better way to record these transactions? I've read that you are unable to pay bills from a liability or equity account in MYOB and that setting up a clearing account might be a possible solution. Any suggestions and instructions on how to go about this would be welcomed!