How can I show Fuel bought on a Utility Warehouse card

I have recently swapped to Utility Warehouse for energy and mobile phone. So now when I purchase fuel for my car I have to go to Sainsburys and use their card which is a top up card.
Please can anyone tell me how to log this in Quickfile as the money on the card has actually come from my current account and I really need to show this coming out of my Business Account.

It sounds like it’d be simplest to model it as a bank account - loading credit onto the card is a bank transfer from current account to the card account, then when you buy things you mark the purchases as paid from the card account rather than the bank.

Hi Ian
Thanks for your reply. If I tag the UW card to my current account as you suggest will this cause me problems as everything else to do with the company goes in and out of the Business Account only so on QuickFile the Current Account will show always as a minus figure with nothing going into it.

How exactly does the UW card work? From your description in the original post it sounded like you first load some amount of money from your bank account onto the card, and then later spend that money on purchases (the same as a credit card except that you load it up before spending rather than paying it off afterwards).

If that is accurate then what I’m suggesting is that you create a new bank account in QuickFile (maybe under the “credit card” category) to represent the balance on your UW card. When you top the card up it’s a “transfer between accounts” in QuickFile, from your bank account to the new UW card account, then when you pay for things on the card you record the payments from the UW card account instead of the bank account. At any given point in time the balance of the UW account in QuickFile equals the amount you’ve loaded onto it minus the amount you’ve spent.

Thanks Ian
Yes that is exactly how it works and your idea seems perfect. My only query being that the card would be used for none business purchases such as birthday presents etc which is how the card makes savings for you by giving you cash back when you use it. These of course would not be shown on QuickFile so the balance would increase but would that matter?
If it does, I’m wondering if I could create the new UW card account, which is topped up from my current account, and then if I purchase say £50 in fuel on the UW card then this means my business fuel has not come out of the Business Account so could I then transfer £50 from the BA to my current account as that is where it has come from but indirectly.

Ah, I see, when you say “current account” you mean your personal account rather than your business current account. It makes more sense now.

If you’re self-employed it doesn’t really make any difference for tax purposes, but if you do want to “pay yourself back” for business expenses from your business account then you could maybe treat it like a credit card - when you make a business purchase using your card you tag it as paid from the UW card account in QuickFile, but you don’t need to record your top ups from your personal account or your non-business purchases.

At a convenient time (e.g. the end of each month, but it could be any time, whenever you want to “settle up”) you look at the overdrawn balance on the UW account in QuickFile to see what purchases you’ve made but not yet paid yourself back for, transfer that amount of money from your business to personal bank accounts, but tag the transfer in QuickFile as going to the UW account to return its balance to zero for the next month.

Or you could just top the card up from your personal account as required and then when you purchase fuel for the business you can just tag the receipt as paid from the proprietor drawings account.

Thank you very much Ian for all your time, help and patience. I am a small business in its first year so I think I may try Stuarts idea for now to keep things simple.
Many thanks

Many thanks Stuart sounds like a nice easy way for me for now. Not sure how long I’ll keep the card as it seems like a lot of work for not a lot of gain!
Thanks again