Sole trader paying myself a 'wage'

Question asked by Chris 3 years ago

I have been advised by my accountant that I need to pay myself a 'wage' every week and have set up a direct debit that takes a certain amount out of my business account every week and transfers it into a shared personal account with my wife. How do I show this in clearbooks without the personal account being linked to clearbooks and being linked as part of the business? If I show this as money out, where would I show it going to.

Any one have any ideas please. Thanks

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1 Reply

Hi Chris,

You would show this as going to yourself as money out. You would need to create yourself as a supplier.

All the best,

Mohamed.

Best answer
3 years ago

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