Hi,
One of our company directors is in Ireland and the other here in the UK, We are currently waiting for our internet banking to be set up and the director that is in Ireland has the bank card. So every week when the staff wages are due, he does 1 transfer from the business account to his partners personal account, so that he can Withdraw/Transfer the money to pay the staff over here. On the bank statement it shows as a transfer but when I record it on solar where will it be transferred to?
Will I do it as a general transaction from the cheque account to employee costs? or will I have to set up his partners bank account and do it from there?
thank you,
Emma
Hi Emma,
Transfer to the 'Directors Loan Account', then when paying the employees use this account as the 'Paid From Account.
Regards,
