Do I need to print off and invoice for my withdrawn wages? Yes, self-employed, VAT reg.. Any help please.
Hi Kathy,
Since you are self-employed your wages are just considered a withdrawal of money from the business. Record a General Transaction from the 'Cheque Account' to 'Owners Drawings and Personal Use'.
Regards
Great, thank you. Do I need to print off an invoice?
Gratefully,
Kathy
Hi Kathy,
I'm afraid I don't know what the document requirements are for tax purposes - you will need to ask your accountant or local tax office.
Regards,