How to record a FLOAT credit into my business account

Accounting
1

Hi All, my PC blew up over the weekend and as a result i had to quickly inject some funds into my business account to cover the cost of the new hardware ordered from my supplier. So i credit the account with £1000 from my personal account to ensure the invoice for the new hardware can be paid out of the business account.

How should i tag the said credit of £1000? The cash is generated from my property rental income that goes into my personal account (drawings from my property partnership).

Many thanks in advanced.

2

Hi @Inkfish

If you are a sole trader then the transaction showing in the bank would be tagged straight to the nominal of capital introduced.

Or if you are a director of a Ltd company then it would be tagged as a transfer from the directors loan account.

Hope this helps

3

Yep that’s great. Thanks!

Kind Regards
Mario

inkfish studios.com

4

This topic was automatically closed after 5 days. New replies are no longer allowed.