Expenses

[David007]

Hi,

Brand New User here.. Please forgive me if i am wrong or appear confused..

I am a sole trader (Australia) doing contract work,  I spent money on expenses (3) for the company using my personal card prior to my business account becoming active. 

I created a bill for each item allocating them to their expense group (Stationary, Printer Supplies etc...)

1. How do i record the payment for these?

2. How do i personally recover these funds?

Cheers

David

[LRBooks61 · Accepted solution]

Hi 

I suggest that you set up a bank account called owners funds and pay the bills from there.

you can then journal the bank balance to your owners contribution/ drawings account

hope that helps

Lisa