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lornev's avatar
lornev
Experienced User
3 years ago
Solved

Re-Imbursing Business Account

Hi My boss inadvertently used his business debit card to pay for a personal expense. It is a Company.  This money needs to be paid back to the business.  Firstly, how does the transaction ge...
  • lornev's avatar
    lornev
    3 years ago

    Thankyou so much! 

     

LRBooks61's avatar
LRBooks61
Ultimate Cover User
3 years ago

Hi 

 

If your boss is the owner you could post both the transactions to drawings.

 

Otherwise record both the transactions in exactly the same way

That is the payment to an account (  personal expense paid by business) with tax code N-T

and the repayment to the same account  (personal expense paid by business)  with tax code N-T 

This effectively cancels itself out

 

Hope that is helpful

 

Lisa