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)
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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