Hi There.
We’ve got some transactions in our suspense account.
Essentially we’ve bought some laptops etc and we are classing the transactions as investment in the business. We paid for them personally but they are owned by the business.
I’m not sure what to tag these transactions with to tie them up and get them out of the suspense account.
Can anyone help with this?
thanks
Bigfoot Networks.
You need to tag these transaction as paid from director or partner account
Hi There.
Thanks for your response… I’m a bit of a novice so apologies for the dumb question I’m about to ask.
With regards the director/partner account, should this be an equity,cash or loan account?
Thanks
Bigfoot Networks.
If you are ltd co, then director a/c is loan account
If partnership then its capital a/c
Perfect… thanks for you help.