Record purchase of laptop but only 50%off (private use)

Accounting
1

Hi all
I bought laptop for my company.I recorder purchase but now I want to record minus 50 percent (private use). Where to record it? in Purchases?
Thx

2

That will be adjusted in your tax return

3

Hi Faraday.
Should I make note of it somewhere? If I adjust in vat return there is no place to make note. I will not remember in 2 years I did it :slight_smile:

4

Are you a sole trader or a limited company?

If you’re a sole trader you can either just log the purchase with 50% of the total amount. Or alternatively you can journal 50% from the purchase code you used to proprietor drawings.

5

Hi,
I paid using business PayPal account. I created invoice (50%) and tagged this payment part but now Ihave part of this payment on supplier Prepayments.How to remove it it from there now? (I am sole trader)
Thank you

6

If I’m correct, you’ve tagged the full payment to the 50% invoice, so you’re left with the remaining 50% as a supplier prepayment. Does that sound about right?

If so, you can just refund the prepayment in this case to the drawings account. This post may help: