Posting Personal Car Insurance claim in Business account (Payout was made in Business0

[Mandi111]

Good Morning,

I have a question,

Our director had an accident and her car was written off, This is however her personal insurance and the Insurance Company paid the insurance money for her car into our business account...

Where should this transaction be posted to?

Thank you

Kind regards
Mandi

[Annetta]

Hi Mandi

The payout should be transferred to her personal bank account. The two entries will then contra in the same month.

[Mandi111]

Hi Annetta,

Thank you so much

Have a great day.

Kind Regards
M