father shop paytm sale credit in son saving account and son is also running other business so what is d tratment in son balance sheet
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Quick Summary
This discussion addresses the accounting treatment when sales from a father's shop are credited to his son's savings account. The advice given is to record the sales in the father's business books and treat the amount transferred to the son as a debt owed by the father. It's crucial to maintain separate entity accounting, meaning the son's personal savings account should not directly reflect the father's business income.