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Expenses

David007
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Expenses

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

1 REPLY 1
LRBooks61
Ultimate Cover User
1,054 Posts
Ultimate Cover User
Australia
Ultimate Cover User

1,054Posts

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Accepted Solution Solved

Re: Expenses

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

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