The Book-keepers Forum (BKF)

Post Info TOPIC: Home Use Adjustments


Newbie

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Home Use Adjustments
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Hi

How do you process home use adjustments, say £2 a week?

Would it be DR Home expenses and CR cash/bank so that the amount is physically paid to the person concerned or is it ok just to adjust the accounts by DR Home expenses and CR the P&L?

Many thanks for your help!

Wendy



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Fay


Senior Member

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Hi Wendy

I would debit 'Use of home as office' in the Profit and loss a/c and credit funds introduced in the balance sheet.

Fay

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Veteran Member

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Dr P&L Use of home
CR Drawings

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Member

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I agree with DR P&L Use of home CR Drawings

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elaine
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