Mistaken company payment for personal items

Question asked by Pete 8 years ago

I mistakenly used my company debit card to pay for some shopping. My first thoughts were I could call this a dividend, however the company is a non-profit company (all profits are donated to charities) so I presume I should now inject some personal money into the company to counter the payment.

Any ideas on the best way to do this and show in the accounts? (Assuming I can't get a credit note from Sainsburys and repay correctly with my personal card)

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Hi Pete - normally it would be recorded as a transfer to your Director's Loan account (set up under the banking section) and so, when you then repay the money, that too is a transfer "from" the same account, to cancel it out.

The alternative is to create an "other debtors" type account and put the money out & in to that.

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8 years ago

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