Hi, We are a partnership, just started to use Quickfile and so far very impressed. We do however have a question that I wonder if someone could help us with.
Occasionally we make cash purchases from our own pocket to buy business related materials. I guess it would make sense to put these through the business but we have not taken any specific money from the business bank account to cover them. Should they be entered under purchases and paid for by directors loan ? Can we then offset them from our drawings ? If anyone can help it would be very much appreciated.