I normally reimburse myself for mileage from the business bank account to my personal account, with the expense account 'motor expense'. But this is a big payment and I don't have the cash in the business account.
Can I record the fact that I've paid for motor expenses from personal money? Something like, equity introduced, say?
Many thanks!
Hi Richard,
If you are self-employed (not a limited company) then create a Money Paid Out transaction with the Type field set to 'General Payment'. Set the Paid From Account to 'Owners Drawings and Personal Use' and set the Allocate To Account to 'Motor Expenses'.
Regards,
