Forum Discussion

Nick1970's avatar
Nick1970
2 years ago

Payment to Director for personal funds used to start up business

Hello community.  In very simple terms could someone please explain how I report payment back to Director of personal funds used to start up business ?(approx Aud $8000). Is it a simple bank transfe...
  • Celia_B's avatar
    Celia_B
    2 years ago

    Hi Nick1970,

     

    Thanks for getting back to us. 

     

    In that case, I would recommend speaking with your advisor or your accountant as they can provide you with more information regarding the process.

     

    Let me know if you need further assistance. We are happy to assist you. 

     

    If my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.

     

    Thanks, 

    Cel

     

Nick1970's avatar
Nick1970

Dear Celia 

 

Thank you so much for the detailed information, greatly appreciated. As I have already input the Bills as paid, about 50 items in total, for around $10,000, is this OK? 

Celia_B's avatar
Celia_B
MYOB Staff
2 years ago

Hi Nick1970,

 

Thanks for getting back to us. 

 

In that case, I would recommend speaking with your advisor or your accountant as they can provide you with more information regarding the process.

 

Let me know if you need further assistance. We are happy to assist you. 

 

If my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.

 

Thanks, 

Cel

 

  • Nick1970's avatar
    Nick1970
    2 years ago

    Thank you Cel

    Celia_B wrote:

    Hi Nick1970,

     

    Thanks for getting back to us. 

     

    In that case, I would recommend speaking with your advisor or your accountant as they can provide you with more information regarding the process.

     

    Let me know if you need further assistance. We are happy to assist you. 

     

    If my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.

     

    Thanks, 

    Cel