When someone spends money using the business bank account - how do I deal with this? Do I just post the amount to adjustments or misc expenses? If i don't post them then my bank statement won't be the same and I won't be able to reconcile - will I or is there another way of doing it? I'm talking about £600-700 a month.
either take to drawings for self employed or DLA for directors.
kind regards,
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.
it needs to be sorted out at the period end with a dividend or salary adjustment to rebalance things.
kind regards,
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.
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.
Or in my case answer enough questions and eventually I'm bound to get one right, lol.
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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.
no but a dividend is often used to clear the DLA at the period end as if not cleared down HMRC will treat it as an actual loan by the company to the director.
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.
Actually, once you start reading that link its going to lead to other links so there's likely to be a couple of hours of your evening ruined, sorry (lol).
talk soon,
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.
I think I ll pass it for next week and enjoying the couple of hours left of this Sunday as the Saturday was full time work.
But definitely it is a must read.
All the best,
Adrian
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This is just my personal opinion. Advice should be sought from a suitably qualified Accountant.
P.S. I only ride a motorbike because I want to dry my clothes faster
