Dear experts,
transferring money from current account to savings account (both relates to partner of company) how to write in his personal books it is loan or drawings, pls explain
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Current account to savings account
Replies (7)
Quick Summary
If its from partner's Current account then its not loan...
It is not loan than how to write
The Current Account is Another mode of Capital account for Partners.
if in the CA having credit balance then the amount will be as Drawing...
Otherwise You can account the amount as loan before confirming the details from partnerss.
if in the CA having credit balance then the amount will be as Drawing...
Otherwise You can account the amount as loan before confirming the details from partnerss.
Why do you want to change yo savings account? Every month my banker debits 1000/- for not maintaining minimum balance. Zero balance accounts will comeback afte cbdc
Your answer not understanding where deducting rs 1000
When transferring money from a current account to a savings account belonging to a partner of the company, it should be recorded as a "drawings" transaction in the partner's personal books.
Can you provide more information on this
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