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]]> By: Anonymous https://startupsanonymous.com/question/best-account-using-personal-funds-develop-startup/#comments/11743 Wed, 26 Oct 2016 12:42:00 +0000 https://startupsanonymous.com/?p=3228#comment-11743 I would write the money into a convertible note or SAFE, both of which can be found for free on YCombinator. You can always declare them void, but that will work for records keeping purposes.

]]> By: Anonymous https://startupsanonymous.com/question/best-account-using-personal-funds-develop-startup/#comments/11682 Wed, 12 Oct 2016 11:07:29 +0000 https://startupsanonymous.com/?p=3228#comment-11682 Don’t worry about it for the time being. You just make sure your books are in order so you know exactly how much each founder invested. Investors need to know the company owns the IP of the software that has been developed so far, so if you’re working with contractors or employees you need to have real employment contracts in place.

Later when presenting your business to investors put a slide in explaining how much money has been invested so far and how much money you need for the next milestones. When investors are ready to write the check have your lawyers formalize the investment terms of the money the founders put in already.

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