The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> advice
Post Info TOPIC: advice
Polie


Newbie

Status: Offline
Posts: 2
Date:
advice
Permalink Closed

Hi Everyone,

I have a client, his method of purchasing and paying using his personal and business accounts appropriate for bookkeeping purposes.

What advice can I give him to improve his business practice when purchasing a business or personal items?

 

Many thanks,



__________________
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

Hi Popa,

You do not give the legal form of the business.

In general, the advice would be that they should buy items for the business through the business. Ensure that all receipts are in the name of the business.

Any personal money that is used introduce to the business as a loan to the business and treat the items as though purchased by the business (receipts must still be in the business name).

Take personal expenditure as withdrawals from the business.

I notice that you are in Australia. This is a UK site so any responses that you get here will be geared towards UK regulations which should not be different to the Australian rules but may be. Just something to be aware of when viewing site responses.

The font used seems unusual so I assume that this question has been cut and posted on several sites. Hope that you find the answer that you are looking for.

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.
Leger


Master Book-keeper

Status: Offline
Posts: 3904
Date:
Permalink Closed

Hi Shaun

I was going to respond to this thread, but noticed the poster was from Australia, and I have absolutely no idea how things work there.  Our fame is spreading lol.



__________________

John 

 

 

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


Newbie

Status: Offline
Posts: 2
Date:
Permalink Closed

Thank you! Shaun.


__________________
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

Or is that infamy John ;)

__________________

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.
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

Polie wrote:

Thank you! Shaun.

No problem Popa, hope it helps.



__________________

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.
Leger


Master Book-keeper

Status: Offline
Posts: 3904
Date:
Permalink Closed

Shamus wrote:

Or is that infamy John ;)

 Oh that famous quote from Kenneth Williams in Carry On Cleo.

"Infamy, infamy, they've all got it infamy" 



__________________

John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> advice
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