Start-up Capital

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1

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.

2

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?

3

Hi,

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

Rue

4

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

5

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

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6

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