Go back

Some amounts have been deposited to the owners personal account, when this has occurred I have credited the funds received against the sale and then gone into spend money and made an entry against shareholder drawings for the same amount... does that make sense?

Well from an accounting perspective it's definitely not wrong, so you could just stick with that. There are other ways but there is nothing wrong with this method - it shows you have a good understanding of accounting anyway!

Go back