Floated a company

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Aisha (Querist)
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26 March 2008 I have recently floated a company.. intially i used to receive the revenue of my business in the name of two of my family members.. and since i hve entered into a long term contract with the concerned ppl i would still receive the revenue in the name of my family members only .. but i want to show the revenue in the company how can i do it????

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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11 May 2012 You should transfer the amount to the bank a/c of the company.

In the books of the company the following entries shall be passed:

1. Aisha A/c Dr
To Debtor A/c
(Being payment received by Aisha on behalf of the company)

2. Bank A/c Dr
To Aisha