Director's cash input
This query is : Resolved
22 October 2013
Sir,
my query is like this.
1) a director/promoter of a private limited company inputs cash into the company's bank account.
2)then a cheque is issued from the company bank account to a insurance company i.e. icici prudential.
3)icici prudential issues a health insurance policy in the director's/promoter's name.
1)to which account head should the director's cash input go to.
2)the bank account is credited, which account is debited
please resolve my query.
regards
vijay
my query is like this.
1) a director/promoter of a private limited company inputs cash into the company's bank account.
2)then a cheque is issued from the company bank account to a insurance company i.e. icici prudential.
3)icici prudential issues a health insurance policy in the director's/promoter's name.
1)to which account head should the director's cash input go to.
2)the bank account is credited, which account is debited
please resolve my query.
regards
vijay
22 October 2013
First entry to putting cash in company bank account would be
Cash A/c Dr.
Loan from Director A/c
(Being cash receive from director towards loan)
Bank A/c Dr.
Cash
(Being cash deposited to bank)
Director Remuneration A/c.
To Bank
(Being cheuqe issued to ICICI Prudential for Personal health insurance of Director)
Loan from Director A/c.
To Bank
(Being cheuqe issued to ICICI Prudential for Personal health insurance of Director)
Cash A/c Dr.
Loan from Director A/c
(Being cash receive from director towards loan)
Bank A/c Dr.
Cash
(Being cash deposited to bank)
Director Remuneration A/c.
To Bank
(Being cheuqe issued to ICICI Prudential for Personal health insurance of Director)
Loan from Director A/c.
To Bank
(Being cheuqe issued to ICICI Prudential for Personal health insurance of Director)
22 October 2013
you can either debit Director Remuneration A/c or Loan from Director A/c
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