Just a quick question, if a client transfers some money into his business account from a personal account thats not linked to the business, do I post it to Shared Captial Account, or do I list it as Misc income??
Or one last thought do I list as drawings, because technically it was taken out of the company as drawings, and now hes putting it back in. So in affect crediting the drawings account. Sorry if I sound long winded!
You would need to debit the business bank account and credit the clients capital account as this would be capital introduced. This would be the case even if he had previously withdrawn the money, as this should have been treated as drawings.
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