Personal Expenses on Ltd Company Credit Card

[Kirsty_Richards]

Hello
I used my Ltd company credit card for a personal purchase. I want to pay this back to the company but how do I log the purchase and subsequent payment by me to the company on Quickfile?

Thanks

[Glenn]

From the bank first locate the transaction you made (or manually add it to the credit card account). Click to tag this entry and select the option “Salary, dividend or other drawings”.

You can then set the dropdown to “Director’s Loan Account” and enter a brief description.

The Director’s Loan Account is a bank account and acts like a ledger to track what is owed to or from the director by the company. Later when you repay the company you would just initiate a bank transfer from the DLA to the current account.

[Kirsty_Richards]

That’s great, nice and simple! Thank you very much.