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How to show income & expenses for other self employed staff

  • Member
  • Practice Licence
  • 11 posts
  • # 115131

Hi,

Can anyone gie me any advice please - I have a client who owns a tattoo shop - sometimes he takes money on a card for one of the artists work who is self employed (a similar set up to some hairdressers I presume) and then he draws cash to pay them. How should I should the income and subsequent expense in the accounts if they dont relate to this business? I was thinking drawings or subcontractor expense but then I dont know how to account for the income?

 

Thanks

  • Member PM.Dip
  • Practice Licence
  • 397 posts
  • # 115134

Hi Tina

In this instance I would just set up a separate 'bank' acount or drawings account for each artist.   This should then balance to zero each time he pays them.  If he rents them a chair - like hairdressers do then those transactions would be shown as normal as part of the business.

 

Regards

 

liz

 

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