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Hi all,
What account (in a commonly used proprietary software) would you record funds that you give to your company for start up capital? Can this only happen once? If I were to contribute X amount of dollars a month, would it be classified as income or capital?
I am a bit confused; please forgive me if my question is too vague and/or confusing.
Regards,
HIG
Topic starter
Posted : 20/08/2007 2:02 pm
Re: Contributed Capital
I will not pretend to tell you that I know that much about accounting but it would seem strange to me that you would call the infusion income because you did not earn it and I am sure you continue to fund the capital.
Posted : 27/08/2007 3:37 pm
Re: Contributed Capital
I confirmed with my accountant and others that I should create an account referred to as working capital and keep proper accounting of what money goes in and out of there.
Thanks for your help!
Topic starter
Posted : 27/08/2007 4:05 pm
Re: Contributed Capital
Thanks for the question and the response I had a similar question
Posted : 29/08/2007 11:51 am
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