Hi. Recently I attended a trade show for my business and took £50 cash from my business account for subsistence/food etc. How do I record this as it seems to drive me down the route of creating a supplier?
Many thanks
Cash withdrawn from your current account should be tread on QF as a transfer from your current account to the petty cash account.
It’s really not worth creating a supplier for every single subsistence/food purchase. Instead create one supplier and call it “Generic Subsistence”, tag all your small food/subsistence expenses there. On the invoice or bank tagging detail line, you can if you like just enter the name of the supplier. Same rule applies for fuel, you don’t want a supplier for every single garage, so just lump them all under one supplier “Generic Fuel”.
Great many thanks Glen
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