Anya said:
“The situation is... there's one man ltd company, the director pays for some company expenses using his own money. What is the action now? How to connect this expenses with company and how director can get the money back. I will be very grateful if someone could help me.”
Anja,
consider these expenses from the cash account
let's say
the director takes out of business account 100£
Cash Acc Dr Cr
100
-------------------------------------
Bank Dr Cr
100
---------------------------------------
now the director pays for some expenses( 50£ tools & equipment)
Tools & Equipment Dr Cr
50
---------------------------------------
Cash Acc Dr Cr
50
--------------------------------------
it depends what type of expense it is, make sure u debit and credit the correct accounts and have a receipt
antohi.engineering@gmail.com
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