bank a/c

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NIRVAY KUMAR (Querist)
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28 October 2009 if company open one bank A/c in the name of some person & company wants to transfer money from company bank a/c to afore said bank A/c and that person use this money for petty cash exps for company office exps. Is correct then what is accounting treatment?

Please reply soon.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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28 October 2009 How can a Company open a Bank A/C in the name of some person ? Not getting correctly.

NIRVAY KUMAR

NIRVAY KUMAR (Querist)
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28 October 2009 if company open only for bank A/c as imprest A/c then what would be effect.

Thanks nirvay

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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28 October 2009 Any bank a/c must be opened in company's name only, the purpose or reason for opening may differ.

e.g. our comapny is having A/C with HSBC which does not support On line Income Tax payment, so I need to open an account with some other enlisted Bank but I can't open it in my name, it must be opened in my company name

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