Entry of family accounting

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2011 my director is many times in month transfer his money to his family member like, his daughter,son, wife, brother,
could you pls tell me how can i show in accounts book when he is maintaining his personal accounts book.
presently i m showing these money for each member loan from director is it right ?
advance thanks

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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23 August 2011 If you asking for treatment in the personal books of director, then it can be shown as Loan or it can be shwon as gift also, depending on the nature of transaction.

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