Start-up Capital

Hi,

We’ve been playing around for several hours now and reading lots of articles in the forum, but nothing seems to be clear.

We’re trying to account for £1000 from my own personal account into the business account, but can’t seem to do this.

Could someone point us in the right direction please? Surely this shouldn’t take hours.

Hi @RueHilton

Are you a sole trader or limited company?

Is this money loaned to the business or if you’re a limited company, was it raised as share capital?

Hi,

Thanks for getting back to me. I’m a sole trader and the money is capital from my own (personal) pocket.

Rue

Thanks for confirming.

You can simply tag these as a transfer from the Sole Proprietors account for now, but you may wish to move them at year end to “Capital Introduced for Sole Traders”.

There’s a nice little guide here, which may help: Sole trader drawings on P&L

Thanks Matthew… I’ll have a go when I get back home later. :+1:

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