Transferring funds from owner to company and back

Transferring funds from owner to company and back 

 

Question:

Hello !
I have a registered company since 1 year and I am the owner and manager, with a registered capital of 100 leva. During the year, I transferred from my personal account 10000 BGN for the activity of the company, which are transferred to 493. From the revenues this year I hope to partially recover the amount that I transferred to the EOOD.
My question is: How should documenting the transfer of funds be done?
to EOOD, and then returning them from EOOD. Should there be a contract mentioning the amount and the period of repayment of the amount, can it be negotiated without interest and which account to use.
Thanks !
With respect.

Answer:

 

Hello,

The transfer of 10000 BGN to the company account must be documented.

You can prepare either a temporary financial assistance contract from you as a natural person to the company (you must have an element with the interest that should not be different from the total "market" levels), or have a protocol decision of the sole owner for an additional monetary a contribution to cover the costs of the company until the same starts to self-finance. In both cases there must be a return period, but in the second case, you have the opportunity to record in the decision that the company does not owe interest for the additional contribution.

Since the additional cash payment is of a temporary nature (subject to return) and does not lead to an increase in the capital, the accounting is done through a settlement account (for example, 493 - estimates with partners):

- 503/493 - upon receipt of the funds

- 493/503 - upon return of the funds

We hope we have been useful.

Greetings.