I complete a lot of s/a for small businesses and don't usually produce accounts unless they request them
However, I thought I should maybe include an income and expenditure account as standard just to maintain professionalism.
My question is, where I have used mileage allowance in place of actual vehicle costs should it be the mileage figure used in the i and e account or actual vehicle costs and make adjustments so the figures match the s/a.
I don't want to confuse the client with different figures
Thanks Valerie
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Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
The actual mileage paid to the director / employee will be included under motor expenses.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Sorry I should have been clear, this is a sole trader for who I have used mileage allowance instead of actual vehicle costs as it is more beneficial.
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Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
