Related party transactions in proprietor accounts
Kishore Nuthalapati (Accountant for multiple small entities) (171 Points)
15 June 2023we are looking after Accounts of a clinic
the clinic is on the Name of proprietor
in tally proprietor wife account is also classified under Capital Account
there are some transactions with wife
Please advise can I reclassify wife ledger as loan or inter company
or can I keep under Capital Account
Thanks in advance