Would appreciate some advice please. When we set up our Ltd company the directors “sold” their personal mobiles to the company at market value.
Due to the age of the phones it has now become necessary to upgrade. New phones purchased, so no issues with putting them in Quickfile. However, the manufacturer is offering a cash amount for trading in the old phones, which will be paid directly into the Director’s personal credit card account. I’m struggling to work out the correct way to represent this in Quickfile.