Introducing Funds
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Darryl Tonks
Member Posts: 1 Novice Member

How do I go about introducing funds from my personal account into my business account?
As my primary income is currently supporting my business, I need to introduce funds on a regular basis to enable me to keep operating but cannot list these funds as sales.
Any advice appreciated.
Thanks
As my primary income is currently supporting my business, I need to introduce funds on a regular basis to enable me to keep operating but cannot list these funds as sales.
Any advice appreciated.
Thanks
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Comments
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Make a deposit. Allocate it to Owners' capital.0
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I've added a bank account for private money owed and transfer back and forth from the trading account to define what is personal money and business money. Hope that helps.0
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Stu thats not really helping. If you want it to be a loan then it should be setup as a loan in the books. Under Div 7A of the tax act there should also be intetest payable and the loan should be documented. Thanks again.0
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Wow complex Area must seek advice from your tax professional. Just had 2dsy tax seminars for Tax Agents
Cosmic Accounting Group
Accountants and Tax Agents 22397009
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Wow indeex Chandra. Thats we get paid the big dollars0
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Wow complex Area must seek advice from your tax professional. Just had 2dsy tax seminars for Tax Agents
Cosmic Accounting Group
Accountants and Tax Agents 22397009
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