I'm using Moneysoft. I wonder how I should post disallowed expenses. I have been posting to a specific drawings account (marked disallowed expenses) but not sure if this is the best way to treat them.
I would appreciate any help
Many thanks
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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.
Post them exactly as usual but go to CODES button, then CLASS CODES, then PRIVATE USE % tab to add back the total required at the end of the year. This way, an SA report can be prepared at the Y/E and exported to tax software.
If you let me have a specific example, I will try to be of further assistance.
That makes perfect sense to me in terms of using it for example 20% private use of vehicle etc
However this relates to individual receipts where client is abroad on business, he has his wife with him so I have had to make adjustments for flights, meals, hotel bills etc. and cannot see how I can apply a broad %age as each receipt very individual
Hope this makes sense
Regards 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 way you were doing it is fine and you can have umpteen Drawings classes. You can highlight and click 'G' to group the entries. They will still be posted to Specific Drawings, say £250 and 'Travel' £250, but will be Grouped together £500 if you use the reconcile funciton. There is also a thin line to the far left of the grouped entries during normal view.
Glad to hear I wasn't making a complete pigs ear of it (no comment please)
The grouping tip is great, just makes it all a good bit more organised.
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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.
