This may seem an awfully stupid question! How do you process in Sage an invoice from the actual company. The owner of the company repaired his work vehicle himself and invoiced the company. Any help would be much appreciated my mind is a blank about this.
You have to think of the owner as separate from the company. They are completely 2 different legal entities, so it is the owner as an individual that is invoicing the company... not the company invoicing itself.
Either way it is fairly pointless, unless there are other shareholders. If the owner invoices the company he will have to declare that income and pay tax, NIC etc. If he just leaves it as is, that money remains as profit for him in the company which he has more options for extracting.
What is he trying to achieve by invoicing the company? It does sound like small alarm bells should be ringing.
