Hi, I am having confusion as below :
One of my client uses savings account to reserve excess funds from current account (it gets u SB AC interest, sometimes FD int too) but while preparing his Firm's final Accounts he doesn't want these to be reflected in it, instead being shown in his own PL & BS. So want help how to reflect following (wrt to any accounting package) :
a) Transfer SB AC interest from firm,s PL to own PL
b) Transfer closing balance of SB Account from firm's BS to own BS
PS : This SB AC is only used for business (only to & fro from current ac) and no personal transaction is executed.
CAclubindia
