Home For accounting professionals General accounting discussion
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚


Accounting treatment for critical illness insurance payout to Ltd company

primeprime FMAAT, AAT Licensed Accountant Posts: 1
Ltd company with 2 shareholder/directors insured both for life/critical illness - one fell ill and made a claim which paid out to the Company, how should this be treated in the accounts?

thanks

Answers

  • mcchocmcchoc East YorkshireRegistered, Tutor Posts: 51
    Debit Bank, Credit Unearned Income?
Sign In or Register to comment.