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Bookkeeping Question

  • 29-10-2010 1:08am
    #1
    JKM
    Registered Users, Registered Users 2 Posts: 171 ✭✭


    Hi,

    I'm just wondering if someone could tell me how to treat the purchase of shares in a set of accounts (i.e. what entries to make in sage)? I'm trying to complete my parents accounts to hand over to our accountant. I'm trying to get them as far as I can to try and reduce accountancy fees.
    The shares were paid for by cheque, so obviously I have to CR the bank A/c. I'm just wondering what the DR entry should be?

    Thanks


Comments

  • #2
    HeinekenTicket
    Registered Users, Registered Users 2 Posts: 146 ✭✭HeinekenTicket


    Are you preparing the accounts of your parents as individuals or the accounts of the company that they own?


  • #3
    JKM
    Registered Users, Registered Users 2 Posts: 171 ✭✭JKM


    I'm preparing them as individuals. They're sole traders. I'm not sure if i'm supposed to show it as an asset or just show the payment as drawings.

    Thanks


  • #4
    HeinekenTicket
    Registered Users, Registered Users 2 Posts: 146 ✭✭HeinekenTicket


    I assume the share certificates of the company have been made out to your parents as individuals.

    In this case, drawings.


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