Ankit Manocha (MBA) (35 Points)
22 May 2017
CA Janani
(ACA ACS DISA(ICAI))
(359 Points)
Replied 22 May 2017
tHERE IS NO BIG PROBLEM IN THE TYPE OF ACCOUNT
IF YOU ARE TAKING IT INTO CURRENT ACCOUNT OF THE FIRM, THEN DIRECTLY YOU CAN ENTER AS
CURRENT A/C DR
TO LOAN A/C
IN CASE, YOU ARE ROUTING THRU SAVING ACCOUNT(WHICH YOU ARE NOT BRINGING IN BOOKS) THEN
BUSINESS BOOKS:-
CURRENT A/C DR
TO CAPITAL A/C
PERSONAL BOOKS:-
SAVINGS A/C DR
TO LOAN A/C
CA Neha Agrawal
(CA)
(825 Points)
Replied 22 May 2017
For proprietor type of account doesn't matter, you can credit the loan loan in either current account or saving account.
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