For startup business expenses like purchase of computer,a/c & furniture.
As per my knowledge i did journal entries like
1. computer a/c,air conditioner a/c & furniture a/c dr
bank or cash a/c cr.
2. Bank a/c dr
directors loan a/c
My question is whether i need to create ledger for supplier for computer,a/c & furniture
& create purchase entry & do the payment entry agst purchase.
Pls guide me,its confusing.