Nature of payment transaction

proprietor transfer payment to family members account, kon se head me Entry karenge
Replies (4)
Quick Summary
This discussion clarifies how to record payments made by a proprietor to their family members' accounts. Depending on the nature of the transaction, it can be entered as a loan under 'Loans & advances' or as a gift directly into the proprietor's capital account. It's also noted that such transactions can be shown under drawings in the capital account.

Either loan to such members or to proprietor's capital account, depending upon its nature.

Agar loan form me hai to as Loans & advances, Agar gift hai to as a gift in capital account.

Also shown under drawings in capital account
Thank you
@ Dhirajlal Rambhia
@ CA Rashmi Gandhi
Welcome Dear

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