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limited company...delay in setting up business bank acc

limited company was set up but delay in setting up limited company business bank acc. Some invoices that were issued were paid into sole trader business account (business was incorporated)

any advice on how to handle this?
thanks in advance for any thoughts

Jenny

Jenny

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12th Oct 2007 13:34

Director's loan
Just treat the limited company transactions in the personal bank account as director's loan transactions. Sales receipts into the personal bank account are loans to the director, company expenses paid out of it are loans to the company.

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