Limited Company Director Expenses

Hi,

I have been reading the posts regarding expenses and have found to be none the wiser on this.
Myself and the other director in my company have been purchasing equipment for the company before we registered as a ltd company. I am going through the process of inputting the purchase records with tagging receipts and marking payment as paid and from our loan accounts which we have set up in the banking section. Do I need to put any additional transactions in the business current account to reflect this?

Once we get money in from invoices we are waiting on, we would like to some of our expenses but will not be able to clear all the expenses, how do we go about this?

Ideally if someone could give me a step by step guide to this as it is very mind boggling. Also does this mean that if we cannot clear the amounts before tax year end we will pay interest as if it was a directors loan.

Thanks,
Andy

You dont need to do any additional entry, expenses paid from Director loan account can be repaid to director BUT subject to enough funds in company, (profit less 20% provision for corporation tax)