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I have not set up a corporate bank account for my company yet, but I have already incurred certain business-related expenses, such as the cost of incorporating the company. How should I record this in the bookkeeping?

Accounting FAQs

Updated over 6 months ago

You can record this as the amount due to you. It is quite common for startups to cover expenses personally in their initial stages. Once the company's business account is set up, you can seek reimbursement for the expenses you paid earlier.

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