Propietors Drawing Account

[susie]

When splitting business and personal expenditure on a single receipt, I cannot get the Proprietor Drawings Account up when creating an invoice, it does appear on the simple wizard from the bank account section, but that does not help me when I need to enter VAT details for the business portion of the purchase. Can you help?

[QFMathew]

Hi @susie

With the personal expense aspect of it, it wouldn’t be relevant to your account so you can simply exclude this from your purchase and then split the bank transaction.

For example, if you spend £150.00 and £50.00 of it was personal, then you would create a purchase invoice for the £100.00 business expenditure. Then, when it comes to the bank transaction, instead of having one £150 transaction, you would have:

• £100.00 out - tagged to the purchase invoice
• £50.00 out - tagged as a transfer to the proprietors drawings account

I hope this helps

[ian_roberts]

The way I tend to deal with this sort of thing is to create the purchase invoice in QuickFile as normal then add one or more negative lines “less: xyz for own use”. The payment is for more than the value of the purchase but I then “refund balance” on the payment out to the drawings account.