I would like some help with directors loan accounts please. I understand that all items paid for by the director needs to go through the DLA, so in practise would this be as follows;
Cr DLA van hire £100
Dr Expenses £100
Cr DLA UOH £208
Dr Expenses £208
Dr DLA Directors personal credit card £40
Cr CC exp £40
I am unsure whether I have to post everything paid through the DLA, if say materials have been purchased out of co acct funds, does this need to go via the DLA?
Cr BANK £40 - I am assuming her that the company bank account has paid the directors own card
I am unsure whether I have to post everything paid through the DLA, if say materials have been purchased out of co acct funds, does this need to go via the DLA?
Only items paid, and taken, privately by the director go through DLA. If the company bank account has paid for items, the journal is
