You have the perfect double entry between DLA & Motor expenses
The double entry between the bank and DLA is quite seperate and you just have a current situation where £149.39 is still owed to the director whereas the rest of the money has already come out of the DLA and Bank.
The outstanding DLA just sits in the books until taken by the director... Similar to the treatment of use of home (if that makes sense).
HTH,
Shaun.
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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.
This business is being closed (I'm trying to provide final figures). As you rightly say, the bank does owe the director... so what's the best way of dealing with the amaount owing please?
If the business is closing then the director should take the money from the company that is owed to them which will reduce the DLA to zero.
Have words with the director about their intentions as from your perspective as you rightly identify you can only record what has happened and not what their intention is to happen at some stage in the future.
Until the money is taken all that can be done is for it to remain in the DLA.
HTH,
Shaun.
__________________
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.
