The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> Professional Book-keepers in Practice -> Simple yet possibly a daft question!
Post Info TOPIC: Simple yet possibly a daft question!
KBS


Veteran Member

Status: Offline
Posts: 74
Date:
Simple yet possibly a daft question!
Permalink Closed

when given receipts for fuel etc. But the car is used on a private basis (say 40%), how do we account for this in sage or any other software package?



__________________
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

Normally just stick the lot through and the accountant (or yourself) will disallow the personal element in the tax comp, i.e. add it back to the profit and make an adjustment to any capital allowances when the accounts are prepared.

__________________
Rob
www.accounts-solutions.com
ClawzCTR


Guru

Status: Offline
Posts: 506
Date:
Permalink Closed

I do the same but do a double 'double' entry right away...
Cr Bank £60
Dr Fuel account £36
Dr Drawings £24

HTH

__________________

Gary

W: www.backtoblackbooks.co.uk    E: gary@backtoblackbooks.co.uk     t: @backtoblackBK
KBS


Veteran Member

Status: Offline
Posts: 74
Date:
Permalink Closed

ClawzCTR wrote:

I do the same but do a double 'double' entry right away...
Cr Bank £60
Dr Fuel account £36
Dr Drawings £24

HTH

 Makes perfect sense, thank you!



__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> Professional Book-keepers in Practice -> Simple yet possibly a daft question!
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About