Tally entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2015 I want to introduced funds in business which are generated by selling personal asset.Funds got credited to personal bank account which is not shown in tally accounting.
From these funds i want to make entry to repay loans. What will be entries.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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10 August 2015 Introduce the funds as capital.

Bank A/c Dr
To Capital A/c

Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2015 That bank account is not in accounting where the funds are got credited.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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11 August 2015 Open a bank account in the name of the business. Transfer funds from personal bank account to the business bank account.

The entry will remain the same.

Bank A/c Dr
To Capital A/c

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