Technical JV Bookkeeping Question

[Nir]

Hi All,

I have a joint bank account with a JV partner. For some JV expenses I`m using my personal VISA
(currently the Visa card is only used for our JV but I say personal since it is under my name AND in the future the same card may be used for other JVs as some experienced investors here mentioned it does not make sense to apply for a new visa card for every JV!).

My question regarding the required Visa balance payment is, should I:

- Transfer the Visa payment amount from our joint JV account to a separate personal bank account and then from the personal account of mine transfer the amount to my VISA?

OR

- Just add my personal VISA to our joint account as payee and transfer the amounts to Visa directly from our joint account?

THANKS.

 

[Nir]

I asked the question last night. reading it again I guess it is pretty obvious it does not matter either a or b above is fine.

 

[TonyMandrique]

QUOTE (investmart @ Dec 2 2009, 07:39 AM) I asked the question last night. reading it again I guess it is pretty obvious it does not matter either a or b above is fine.


I would do `b` as it is simplier.

TonyM.

 

[Nir]

Thanks Tony. will do.