How should I correctly post/record a Director Expenditure from the company bank account in lieu of salary payment…? For example if I’m going out for a private meal, that is not a company expense…?
Hello @ICEGRIPPER
You would not record any private expenses in your accounts.
Post a transfer out of your company bank to the Directors loan account to show the money leaving your companies bank
… and then later when you declare a salary or dividend payment you can mark that as coming out of the director’s loan account to offset some of what the director owes to the company, instead of taking actual money from the company account.
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