Director as a supplier may be problematic. The asset is purchased from a third party by the company (the director is in this instance an intermediary). The money comes from the bank. The director suplied the money via the DLA to the bank. The bank in this instance may be the DLA missing out the companies bank account. The director would not however show as a supplier.
HTH,
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.
After weeks of work presure getting in the way of abolutely anything including study, I'm supposed to be catching up with the MSc. (full weekend catchup with no clients) but so far I think that I'm winning the staring competition with the closed folder containing all the reading material that I should be working through.
Mmmm, sure that the study will go so much better if I first do the washing up, wash the clothes, hoover the front room, paint the kitchen, build an extension....
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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.
Has been used by my predecessor and then the accountants spent some time doing the book keeping before I started, so they have posted things in a couple of different ways
Hi Catherine
OK so in this instance - post the supplier invoice to the actual suppliers account and code it to repairs as usual.
Then amend the name on the Bank account styled 'Building society' if you havent already used it for entries or changed it to something else. Or set up a new Bank account via the 'wizard' option on the Bank page. Call it 'Director's Bank' or Director's current account or whatever.
Bank supplier payment - pay the invoice, from this new Director's Bank. That will now show as overdrawn.
So then just key a 'bank receipt' to clear the overdrawn position and code it to the actual DLA.
For small receipts where there is no VAT involved and you have no need to set up a supplier then you can just key those expenses as a journal direct to the expenses codes and the DLA code direct.
HTH
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
After weeks of work presure getting in the way of abolutely anything including study, I'm supposed to be catching up with the MSc. (full weekend catchup with no clients) but so far I think that I'm winning the staring competition with the closed folder containing all the reading material that I should be working through.
Mmmm, sure that the study will go so much better if I first do the washing up, wash the clothes, hoover the front room, paint the kitchen, build an extension....
Actually its about bloody time!
You forgot - dig over the garden, shopping, ironing, making copious brews, reading your spam, cleaning down the back of the radiators and pondering (combined with the ensuing exestential crisis, no doubt)
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Do you need advice or help with calculations? They worked with Sage too. Professionals from this company helped me, I stayed satisfy. You can contact with this company - << Removed >>
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.
Waiting for Excel to finish crashing because of the awful excuse for a PC that I'm using at the client site! :/
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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.
Lol. If ever my cups cold at work there is something very, very seriously wrong.
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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.
