I have recently set up a franchise gardening services business. Because of the situation with the virus, there were several challenges on setup. One of which was the timeframe of getting the business account sorted. This meant that many setup expenses went straight on my personal account. Many of which (not all) have been logged to quickfile under petty cash.
I had a business loan which has also been recorded on quickfile so this has balanced to some degree.
Could someone tell me -
1 - Should these purchases be logged under petty cash? and if not what should they be?
2 - How do I add initial investment (purchases made through my personal finances) to quickfile?
3 - How do I search for all cash transactions to cross-reference with my bank stats to balance my books?
Many thanks in advance