Hi
I am starting to withdraw sums of money every week or so as my salary. As i am not an employee i don't have the tax and Ni liability just yet so i would imagine that a new account is required on the software?
How would i record the withdrawal??
Regards
Gerry
Hi Gerry,
Since you mention tax and NI it sounds like you are treating the payment as a company expense rather than a directors loan. In that case I recommend you create a new expense account called 'Directors Fees' and record a Money Paid Out transaction allocated to this account.
Regards,
