House hold expenses

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Assistant
362 Points Posted on 17 May 2020
dear sir

can propriter use 20000 cash in a month for their house hold activities
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On 17 May 2020 at 17:02 Report
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Quick Summary
This discussion clarifies that using cash for household activities, such as the £20,000 mentioned, is considered a personal drawing, not a business expense. This withdrawal will be deducted from your overall capital balance.

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CA-PRACTICE
400 Points Posted on 17 May 2020
Those are Drawings in nature , no issue by doing that.
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On 17 May 2020 at 22:46
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Student CA IPC / IPCC
352 Points Posted on 18 May 2020
You can use 20000 cash in a month for house hold activities. It is drawing and not a business expenses, the amount of withdrawal deducted from your capital balance.

Thanks
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On 18 May 2020 at 09:43

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