Personal accounts

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166 Points Posted on 15 May 2023
amount transfer from savings account to savings account is capital expenditure or ban
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On 15 May 2023 at 16:19 Report
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Quick Summary
Moving money between your own personal savings accounts is not considered expenditure; it's a contra entry. While personal accounts offer flexibility for multiple transactions, the focus shifts to company accounts for official reporting. Business accounts require diligent record-keeping and reporting, unlike personal ones.

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SEO Sai Gr. Hosp.
212535 Points Posted on 15 May 2023

If both are your accounts, there is no expenditure.

It is contra entry...

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On 15 May 2023 at 17:38
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Finance
4592 Points Posted on 15 May 2023

Personal accounts are not important but company accounts are. You can have multple acxounts and do transactions. Business accounts needs to do reporting.

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On 15 May 2023 at 18:14

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