Still awaiting a reply to this, many thanks.
---------------------
Hi Terry,
The following is a message from last year. I have an additional question if I may:
My question:
Company incorporated 1 Jun 07.
1st year of accounts from May 08 to Apr 09.
I spent about £6000 personally on the company before May 08.
After May 08, I have also spent about £1000 on the company myself.
These amounts are not 'capital injection': i.e. they were not transferred into the company bank account.
Your answer:
Enter the amounts you have spent in the expenses claim form provided.
Record that expenses claim in purchases. That increases creditors as the company then owes you the money.
When you pay yourself enter the amount paid in cash or bank spreadsheet coded CR to reduce creditors.
New question:
I'm now in my second year of accounts (May 09 to Apr 10) and I've just repaid myself £1000 of the original £6000 I loaned the company.
I've already entered the £6000 into 09-10 Financial Accounts > Open Accounts > Trade Creditors.
Is the bank spreadsheet the only spreadsheet I now need to update?
i.e. Do I not need to touch the Purchases spreadsheet for 09-10? Also, it may sound a silly question, but should I update the 08-09 Purchases spreadsheet and enter £1000 into the 'Actual Amount Paid' to partly pay off the directors expenses which currently displays '251 days outstanding'?
Many thanks,
Henry.
|
