If i use my home as an office and i want to claim some of my heat a light etc. Am i right in thinkin that first of all i have to work out the percentage used and then when entering them into my accounts i debit the expense account (heat and light) and credit capital introduced??
Would i also do that on a monthly basis.
Sorry, i just need to be sure as im panicking incase i get something wrong.
Im trying to do my tax return and need to enter my home expenses and i think im on the right lines but not 100% sure.
When my office was at home, I worked out its use on a percentage value and just did it annually for my accounts. I debited 'office at home' and credited 'drawings'.
