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RushaKharel's avatar
RushaKharel
Member
3 years ago

REIMBURSEMENT TO MYSELF AS A SOLE TRADER FOR THE EXPENSES I SPEND ON BEHALF OF BUSINESS.

Hi there, I am a sole trader, keep my books on cash basis and want to reimburse myself for the expenses I paid from my personal bank account in the previous quarter (01/01/2023 to 31/03/2023). Now in...
Princess_R's avatar
Princess_R
MYOB Moderator
3 years ago

Hi RushaKharel 

 

Thank you for your post. I'd like to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource.

 

Generally, you could use spend money transaction for the expenses you made for the business to have GST credit. However, as we're not accountants and we're not permitted to advise where you should be recording transactions. I would recommend speaking to your accountant to ensure the correct GST credit claim.

 

Please feel free to post again I'll be happy to assist.

 

 

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

 

Cheers,

Princess

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