LTD company start up

Hi

I recently set up a limited company in Dec 2013. i was enrolled on a goverment NEA project. I made some start up purchases from my own bank accounts as the company accounts have taken some time to set up. is there a procedure of the company taking over these costs or does the company have to purchase thes items from me as assets.

regards

Gary

You can record these purchases in company books as long invoice is in company’s name, it does not matter if paid by director. You would record transaction as normal and use director current account as payment account instead of company account. Provided company have funds you can take money out of company bank account to make director account nil

no they were not invoiced to company… hence my thinking that the company would have to purchase items from me.I guess the company would pay me for items and i would issue a reciept to the company… the company is dormant.bank account just opened and credit card issued.

As long things are used for company purpose , it should be OK for early days but dont make it habit to be on safe side