I had to use the business credit card for an emergency payment (it was discovered that the PIN on my personal debit card was faulty) of £40.01 I now need to account for this in QF. Currently the DLA is owed £200+ so I need to show that the DLA is reduced by the amount owed less £40.01 but I’m unsure how to do this correctly. Can anyone shed some light on this for me pls?
I am not an accountant by any means, but would you not just tag it as a transfer between accounts?
Hi Daniel, thanks for your response. I did try doing this but it didn’t work for some reason. Think I’m probably over complicating things with bank tagging also.
Tag it as “Director Loan Account” from bank screen, click on tag then select “Salary, dividend or other drawings” then Payment Type: Director Loan Account"
Thank you, all now sorted.