On occasions, I've bought goods and services for the business using my own funds not via my business bank account. How do I record the receipt of these funds, which clearly are not income?
Hi Richard,
Create a Money Paid Out transaction allocated to an expense account as normal, except set the Paid From Account to either 'Owners Drawings and Personal Use' (if you are self-employed) or 'Directors Loan Account' (if the business is a limited company and you are a director).
Regards,
