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The Book-keepers Forum -> Welcome to The Book-keepers Forum! -> Start up costs
Post Info TOPIC: Start up costs
alfie


Veteran Member

Status: Offline
Posts: 36
Date: Mon Dec 12 22:06 2011
Start up costs
 

I have a client who has got start up costs that were paid for from his personal account.

The invoices are in his system as not paid.

I have to show these as paid and pay the client back from his business bank account

What would the entry be to do this?



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kjmcculloch83


Guru

Status: Offline
Posts: 906
Date: Mon Dec 12 23:11 2011
 

You can credit capital and debit creditors. If you show it coming from the business bank account, which I assume it has not, you will be unable to properly reconcile it. If you do need to put it through a bank account I would suggest using cash. So Cr Capital DR Cash, CR Cash DR creditors (supplier).

Hope this helps

Kris

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alfie


Veteran Member

Status: Offline
Posts: 36
Date: Mon Dec 12 23:15 2011
 

Thanks it is a tricky one.



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