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Post Info TOPIC: Accounting for mileage claims from Director
Leger


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Accounting for mileage claims from Director
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I claim mileage from my company at 45p a mile.  I mostly use the company bank account to pay for the actual fuel used.  How best to treat it?  Easiest to me would be to allocate the fuel payment to DLA and then do a journal DLA to motor expenses for the mileage.

Is this ok, or should I be putting the fuel payments to motor expenses and journal the difference?



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abacus12345


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Hi John. I'd Dr Expenses Cr Bank.

 

Journal the difference between actual and allowable

 

Dr Expenses Cr DLA



-- Edited by abacus12345 on Thursday 3rd of March 2016 07:04:23 PM

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Leger


Master Book-keeper

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Thanks Johnny, much appreciated.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
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