Proprietor savings bank

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Ramesha.M (Querist)
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20 September 2012 Dear sir,

in our client (Proprietorship) open his personal Savings bank and he transfer some amount to his current account.
in current account receipt entry 185000 amount arise
so how to pass journal entry
2) can we taken his personal saving accounts separate or taken as firms bank accounts i.,e opening with current account and savings accounts both entered in the firms accounting.

please guide me

Regards.
Ramesha.m

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Guest (Expert)

28 September 2012 Pass a contra entry by following the rules of real account.

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