Personal Money used within the company

Accounting
1

Hey, I have given a personal loan to my company , This has balanced between the Directors Loan A/c and the company current a/c . So my next question is , If I purchase goods for my Ltd company through my own personal bank a/c or credit card . How should this be recorded? I feel like a idiot asking these questions =[

2

Record the purchases as paid from the Director’s Loan account - it’s treated as you lending money to the company which it then uses to pay for the goods.

3

Ahh Ian my savior again!! Thanks quick question my Share (3000) has got no entries , All i have done so far is given the company £1650 Start up cash should that be recorded in shares and not against the Directors Loan A/C (This Question is not related to the Purchasing of goods through a personal card :wink:)

Thanks
Jake

4

This KB article suggests you just use a journal to move the money from Director’s Loan to share capital, but talk to your accountant about the other steps you need to make it official - I don’t use a limited company so I’m not sure of all the ins and outs but you probably have to say something to Companies House.

5

Thanks Ian i have got £1 of Ord Share so I guess i just put £1 from my loan a/c to share a/c

6

987×216 46.5 KB

that doesn’t look right to me

7

883×274 31.6 KB

It is not recording in the Journal

I will have to do alot reading after work

8

Money introduced in company should be classed as loan from director and not share capital unless it is case of increase in share capital itself

9

So in theory it is okay to have nothing in my Control Accounts for (3000) Shares
???