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lor


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self employed person's bank ac's
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what would you do if you had a clent who had a business bank ac and a personal bank ac? but used both for business purposes, would you amalgamate the 2 together?

the personal one is also used for personal trans as well as business.


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Davey


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Hello lor.

Keep the Business Bank Account and Personal Bank Account Seperate. Material or Expenses
paid out of the Personal Account for the business debit the relevent account with the
amount of the expense and credit the Capital Account. Take out the VAT ELEMENT IF they are
VAT REGISTERED.

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David
lor


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thank you, they aren't vat registered so that will simplify things somewhat....I will do as you have suggested many thanks lor 

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