28 October 2009
if company open one bank A/c in the name of some person & company wants to transfer money from company bank a/c to afore said bank A/c and that person use this money for petty cash exps for company office exps. Is correct then what is accounting treatment?
28 October 2009
Any bank a/c must be opened in company's name only, the purpose or reason for opening may differ.
e.g. our comapny is having A/C with HSBC which does not support On line Income Tax payment, so I need to open an account with some other enlisted Bank but I can't open it in my name, it must be opened in my company name
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