Client Account

Options
Palms
Palms Registered Posts: 5 New contributor 🐸
in General accounting discussion
Hi, I'm having a really dim moment (could be something to do with mini-me playing 'Alvin & Chipmonks' at full volume in the background - my excuse anyway!) and would appreaciate any clarity.

I've taken on a new bookkeeping client who runs a Client Account, do I have to show this in his books or do I enter the details on a separate spreadsheet and keep it out of the accounts completely?

Many thanks.

Palms

Comments

  • sdv
    sdv Registered Posts: 585 Epic contributor 🐘
    Options
    you will have a clients control account, (Creditors) and a clients bank account (nominal/Debit balance)

    The bank account will be a debit balance shown as a current asset, anf the clients control account will be shown as a current liability, thus cancelling each other out.

    But bothr of these accounts are part of the financial accounts an must be shown on the balance sheet

Categories

Privacy Policy