Monthly rental charges

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MANAGER ACCOUNTS
187 Points Posted on 04 July 2020
Dear Sir

we are giving machinery on rental basis and getting rental money to my saving account. since we have current account, machinery also showed in balance sheet (proprietorship)
kindly advise
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On 04 July 2020 at 11:18 Report
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Quick Summary
This discussion addresses how to account for monthly rental charges received for machinery, particularly when the income is deposited into a personal savings account while the machinery is listed on the business balance sheet. Advice is given to record the savings account in the books of account, allowing for interchangeability within the sole proprietorship structure.

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10 Points Posted on 06 July 2020
Show saving account in your books of account. sole proprietorship and your same can be interchange in sole proprietorship business.
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On 06 July 2020 at 12:19
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MANAGER ACCOUNTS
187 Points Posted on 06 July 2020
Thank you sir
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On 06 July 2020 at 12:25

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