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Louise

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Louise
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Louise

Post by Louise » 28 Jul 2006, 19:20

How do I post transactions which were done through a personal bank account before the persons business account was opened. Do I record them as Capital Introduced? :?

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brucedenney
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Post by brucedenney » 31 Jul 2006, 09:28

There are lots of ways, none of them right or wrong.

What I would do, is to create a new bank account called "Personal Bank Account" and post all the transactions to that.

I wouldn't bother with the capital introduced entry, I would just offset drawing back against the account,

however, if you wanted to, when everything is posted and complete you could zero out the bank with a bank receipt against capital introduced.
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