Hello
We have recently set up a Limited company & deposited £250 (from savings) into the business current account to cover initial set up expenses. I have added our business account to QuickFile with the balance but I am unsure how to log this transaction through the journel? Thanks for your help.
You don’t really need journal for this, just tag the money coming in to main business bank account as funds from director. Click on red tag me, pick something else and then pick nominal 1201
For 1201 (or anything else in the 12xx range) you don’t have to use “something not on the list”, you can use “bank transfer between accounts” and pick Director’s Loan as the source account.