Accidentally Used Company Debit Card

Accounting
1

Hi all,

I accidentally used the company debit card for making a personal shopping purchase, and it is too late to cancel the purchase.

As I was using the card for my own personal use - shall I put this down as a directors loan? And then re-credit my business bank account from my personal account to repay the loan?

Would this be an acceptable way to record the transactions?

Many thanks for any help on this.

Philip

2

When the payment appears on your business bank statement tag it as a transfer to director’s loan. If/when you pay the company back that would be a transfer the other way.

3

Hi Phillip,

What you have would be the correct way to record the transactions.

Kind regards,
Chris