Capital or Asset??

[cyberdog]

If I setup a business bank account, and deposit an amount of money in it. How do I show this in my accounts? Do I put it through as “money invested” under Capital, or do I just put it in the Bank Account under Assets.
I would appreciate some basic help please.
:?

[Alpha]

There are basically two entries.

You post it to your bank account as a bank receipt with the corresponding entry as capital introduced.

[Joyous]

As Alpha says there are two entries. So your balance sheet will show "Cash at bank" under the assets section, with the other entry being "Capital".

Regards

Joy

[cyberdog]

There are basically two entries.

You post it to your bank account as a bank receipt with the corresponding entry as capital introduced.

Hi Alan & Joy,
Thank you both for your help. I put it in the bank account under assets as you said, and it automatically showed up in capital under Owners Capital > money invested. Thanks again, easy when you know how.
:D