a firm owner have saving and current account and he generally transfer in current ac from saving account
my question is he can transfer it Direct or it is a capital
and what treatment in accounting and rules for these types transaction in firm , proprietorship, company
please clarify as iam confused that it is like bringing capital but he is a propriotor so pan card same income is his own and what if this was a firm and transfer in current ac from saving account
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Accounting entry banking
Replies (3)
Quick Summary
He can fund his own business with his own income. No problem.
He can fund his own business with his own income. No problem.. I am also agree with this.
He is transfer another business income to current account , there is no issue you can assume it capital or own income
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