Accounting for salon

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1359 Points Posted on 26 December 2021
a salon earn its revenue from hair cutting shaving etc so if the employee cut the owner hairs does ut will treat as drawing
means is there any concept of drawing in service sector
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On 26 December 2021 at 13:12 Report
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Quick Summary
This discussion clarifies how to account for services an owner receives from their own salon, such as haircuts. These are treated as drawings, similar to taking cash from the business for personal use. The key takeaway is that personal expenses of the owner, even if rendered as a service by the salon, should be recorded as drawings in the business's accounting records.

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Self Employeed
169 Points Posted on 26 December 2021
Yes it is personal expenses of owner treat it as drawing
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On 26 December 2021 at 21:14
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Company Secretary
7085 Points Posted on 27 December 2021
You can treat it and record in the books as a Drawings of a proprietor
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On 27 December 2021 at 01:27
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1359 Points Posted on 27 December 2021
What is the journal entries??
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On 27 December 2021 at 18:26

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