I’ve been caught off guard.
Of of my directors has made a payment of £6,500 from the bank to his personal account. The 6.5k breaks down to Travel £500, Dividend £1000 and repayment of the directors loan to the company of £5k,
My question is how do I tag this when the bank payment hits QF tomorrow!
TIA
Dave
Transfer to the relevant director’s loan account, then make a separate money out transaction in that loan account to tag as the dividend.
Presumably the £500 travel is reimbursement for one or more purchases that have already been logged as paid from the director’s loan, so that should be all you need to do. The £5000 plus the £500 travel together just serve to reduce the overdrawn balance of the DL account.
I second this! Good one.
Ian, Many Thanks, the support on here is excellent, especially for people like me who ask the occasional dumb question!
Regards
Dave
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