Proprietorship Org. has received a Cheque on the name of proprietor say Amit, not on the name of prop. Org. say (sai traders) & that Cheque is deposited in his personal account.
Can we treat it as amount received by Org, in books of proprietorship.
13 November 2009
cheque can be received in the name of the proprietor.but it has to be transferred to the account of the prop org to ensure systamatic accounting.
CAclubindia
