Hello, could anyone give me advice on this please? I’ve just signed up to Quickfile and new to it.
I am the only director and shareholder of a limited company which i created about a year ago. I made a horrendous mistake by not opening a proper business account right at the start. (I am sorting it out now)
But at the time I had a second private current account which I thought I will use only for business purposes. When the company was created I had £400 sitting on it. So I thought 100 will be the shares + 300 my loan to business and I started making business purchases. Now I am trying to log this into Quickfile and thats what I’ve done:
from directors loan account(1201) to ordinary shares(3000) £100
from directors loan account(1201) to currrent account(1200) £300
, but I am not sure its correct because I can’t reconcile it with the bank statement. There weren’t any transactions to match this because the money were already there before company was created.
Any advice would be so appreciated, I am really at a loss here!