Trying to set up our Financial Accounting system at Manager. Besides a Bank A/c & a Cash on Hand a/c, our Proprietor also withdraws funds from the bank a/c & uses it partially or fully for official expenses. So, when we enter expense entries, how do we mention that the payment is made from the Proprietor’s withdrawal a/c & not from bank or cash a/c. So, what kind of a/c we create for the proprietor & where? Can it be a capital a/c? Please advise.
Thanking you.
Ankush Arya
for Mavin Mantra