Hi, I'm currently trialing Solar Accounts and am impressed in it's simplicity.
I've looked at pretty much all software for mac and windows and I think I've found 'the one'. Just two simple questions I have;
I am self-employed and this year have swapped from end of year percentage deductions for mileage etc to the per mile rate. I pay for all fuel from the business account regardless of private/business use.
I must still have to record the fuel receipt; 'Cheque Account' credits the 'Motor Expenses' account.... so how do I then allocate the personal amount?
Secondly; If I purchase something from my personal account for the business, how do I account for this in the business?
Thanks for creating this simple software.
David Simpson
Hi David,
Glad to hear you like our software! To answer your questions:
Although you make one payment for fuel, I think it's simplest to record two transactions in Solar Accounts: The first is a normal Money Paid Out transaction from the Cheque Account allocated to Motor Expenses; the second is a General Transaction from the Cheque Account to the 'Owners Drawings and Personal Use' account.
When you pay for a business expense with your personal funds create a Money Paid Out transaction in the normal way (ie. allocated to an expense account) but set the Paid From Account field to 'Owners Drawings and Personal Use'.
Regards,
