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Post Info TOPIC: Sage & mileage for Sole Trader
clare92


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Sage & mileage for Sole Trader
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Hi All,

I was just wondering what journals / transactions some of you use for recording the mileage for sole traders in Sage?

many thanks

Clare

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semsley


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Does the sole trader take the cash for the mileage from the takings? If so, credit drawings and debit motor expenses (somewhere in the 74xx range)

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clare92


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He's not taken any yet, he's not long been set up - just a few months. He wants a report of his expenses owed to him each month to see what the business owes him

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semsley


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He'll need a log of his business miles then multiply them by 40p up to 10,000 miles thereafter 25p. If he does this he can't claim any other motor expenses that amount takes into account the alleged cost of running a car (it's been the same figure for donkey's years).

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clare92


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Many thanks! - Yes he has done all his mileage logs and is claiming the correct amounts. As he hasnt reimbursed himself yet and wants to see it ass expense owed to him, i was just wondering how other people would show this in sage (what journal etc)

I have had a conflict of ways by myself and 2 others!!

Thanks again
Clare

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semsley


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Do the journal cr drawings and dr expenses. That shows the expenses as a cost in the P & L and the drawings as owed to the owner in the BS.

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clare92


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Thank you so much for your answers!!!!

Another small squabble we have had, which i would very much value your opinion on, is (re sole traders in Sage) setting up the sole trader as a supplier and recording all the purchases he has made through there?

What is your opinion on this?

Thanks

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semsley


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As a sole trader I would put all private purchases through as drawings.

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clare92


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Thank you! That was my opinion too (phew) :)

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