Hi There, I’m new to being self employed Sole Trader and this is a side line to my regular employment - I need to be all compliant with my Tax Affairs.
I am clearly doing something wrong - followed the guide and i must be missing a step. So drawing down on business millage - I have set up a purchase to myself as described in the guide approved business millage - I would like to draw this monthly at my month end.
I create the purchase and select to transfer the funds to my drawing ledger - I then transfer the money from my Sole Trader Business account to personal account - However the bank balance in QF does not reduce by the amount I have transferred to the drawings ledger to I need to reconcile the drawings ledger ? what am I doing wrong ???