Paying myself

Hello,

I fear this may be a really silly question, but I'll ask anyway. As a sole trade how do I record payment to myself, e.g. wages paid from my business account to my personal account.

I have found two answers on the forum here, but they seem to suggest a different way of doing the same thing, could you clarify please.

http://www.solaraccounts.co.uk/forum/topic.php?TopicId=373&Posts=3
http://www.solaraccounts.co.uk/forum/topic.php?TopicId=1209&Posts=1

Thanks

Posted by Mg on Jul 5, 2012 7:27 PM BST

Hi MG,

Either method is acceptable - in both cases you are transferring money from the "Cheque Account" to the "Owners Drawings and Personal Use" account.

Regards,

Posted by Mark McLaren (Solar Accounts) on Jul 6, 2012 9:46 AM BST