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ridgey22


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Sage Instant journals-HELP
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Hi

I've just started using Sage again after many years with other softwares.  Here's the Q

How to do a journal entry for

Personal cash into Business bank

so Dr Business Bank and Cr Capital - correct me if i'm wrong. 

I've gone into Nominal Journal Entry which makes sense and put the relevant dates in the codes for Dr bank (1200) details of the transfer but where i'm stuck is the code for the CR the other side. 

I think i'm being over cautious as I don't want to make a mistake but keep telling myself this how you learndisbelief

Any advice would be welcomed

Ridgey22



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Wella


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I am assuming it is a soletrader, and would rename the Ordinary Shares Account (3000) as Capital, and create a Capital Introduced a/c (3001) and Drawings a/c (3002) for future use.

DR Bank as you say, and CR Capital with the start up funds.

In future use the Cap Intro for any further money added during year, and Drawings for any money taken out.

HTH

Bill



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ridgey22


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Thanks Bill for your quick reply

Ah well I may be getting confused now as its a Limited company.  They haven't actual put a lump sum for captal but tranfered as and when they have need to through out the year. So lots of small transactions with different dates and amounts

Ridgey22



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Stardoe


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Hi there,

If the Directors are putting their own money into the company, I would credit a Directors' Loan account. I have mine set up in the 23** range.

Pauline

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Pauline
ridgey22


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Thanks Pauline for your advice.

Ridgey22

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