Proprietership firm profit
This query is : Resolved
SAMIR DESAI
(Querist)
08 June 2012
DEar Sir,
I have proprietorship firm & I also maintain my indivisula books of account in tally than how i mentioned porprietorship profit in my indivisual books of acccounts how pass entry pls guide me & othe question is if i give ten thousand rupees to my pro. firm than this amount go in my pro. firm as loan & advaces
I have proprietorship firm & I also maintain my indivisula books of account in tally than how i mentioned porprietorship profit in my indivisual books of acccounts how pass entry pls guide me & othe question is if i give ten thousand rupees to my pro. firm than this amount go in my pro. firm as loan & advaces
Amol S Joglekar
(Expert)
08 June 2012
No need to pass entry of the proprietorship PROFIT in INDIVIDUAL books of accounts. The question of merging will arise when you need to prepare the BALANCE SHEET for presenting the same to say banker, Govt, Tenderer etc.
SAMIR DESAI
(Querist)
08 June 2012
Dear Sir If i give some of rs. 10000/- to my firm than this amount show in my firm accounts as loan & advances
SAMIR DESAI
(Querist)
08 June 2012
Dear Sir If i give some of rs. 10000/- to my firm than this amount show in my firm accounts as loan & advances
Amol S Joglekar
(Expert)
08 June 2012
Better if you show it as CAPITAL introduction. In individual's books shown as investment in proprietory business AND introduction of capital in the books of Proprietory business.
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