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I have just opened an account for my business. Can I deposit money here as start-up capital and how/where should I enter this in the accounts?
I have just opened an account for my business. Can I deposit money here as start-up capital and how/where should I enter this in the accounts?
You can certainly do that. If this is just a transfer between your own accounts, it is not income, so it does not need to be entered in your accounts.
Good luck! Vanessa
Please note that transfers between accounts give the tax authorities the right to check both accounts if they deem it necessary. It is best to go to the bank, withdraw the money and deposit it again.
When depositing a salary, it is best to write this in the comment field, which should protect you from an audit of your private account.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.