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DOWGILE


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Cash Expenses paid by business and personally
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Hi

The partnership I do the bookkeeping for is in its first year of business and they have paid for a lot of the cash expenditure themselves as well as drawing cash from the business bank account.  The dates and amounts of the cash withdrawals do not always match up to the cash receipts dates and amounts and it is not marked on the receipt if it was paid by business cash or personal.  Would it be okay to post all the cash expenditure to a cash suspense account and net of with the cash drawn from bank and then post the balance to the partners capital introduced account (the cash expenditure does exceed the cash drawn).

Thanks

Any help at all would be appreciated, thanks again.

-- Edited by DOWGILE on Tuesday 5th of May 2009 01:26:57 PM

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