Addition of saving bank account in new firm
This query is : Resolved
18 December 2015
Dear Expert
I just wanted to ask that
my friend has started a new buisness.
While introducing a capital he used his personal saving account and had given a cheque to new current account.
He had not maintained his personal account in his accounting.
When someone told him about this he decided not to account his personal bank account.
What is solution.
Please Tell
Thanks in advance
I just wanted to ask that
my friend has started a new buisness.
While introducing a capital he used his personal saving account and had given a cheque to new current account.
He had not maintained his personal account in his accounting.
When someone told him about this he decided not to account his personal bank account.
What is solution.
Please Tell
Thanks in advance
CMA Ramesh Krishnan
(Expert)
19 December 2015
Yes. owner personal savings account cannot be shown in business, open on current account for business purpose and operate the same
01 January 2016
thanks sir,
But he had already shown that account in buisness.
Although he opened a current account but on 1st apr 2015.
now what to do with that personal account.
But he had already shown that account in buisness.
Although he opened a current account but on 1st apr 2015.
now what to do with that personal account.
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