Client Account
Palms
Registered Posts: 5 New contributor 🐸
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
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
0
Comments
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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 sheet0
