Personal refund into business bank in error

Accounting
1

Hi,

A few years ago I moved my mobile phone contract from personal to business. Naturally the monthly contract is now paid from our business account. Last month Vodafone have decided that I was due a personal credit of £6.89 and in their wisdom have placed this in our business account, in addition they refuse to provide any paperwork to cover.
How do I account for this? I’m happy to transfer the money to my personal account of the Directors Loan, whatever is easiest.

2

If it’s not business related money then the simplest is to tag the money in as a transfer from director loan, and then if you take it back out then tag that as a transfer the other way.

1 Like
3

Brilliant
Thanks for your quick response & simple solution.

4

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