How to minus one bank account from the other

Question asked by Sean Dawn 11 years ago

Okay so basically I have my main bank account with around 4k in it.
I also have another bank account with about 3.5k in it.

How do I get ClearBooks to basically minus the 3.5k from the 4k and work out what what corproration taz is owned etc from the remaining?

It shows me available funds at the top of the bank account section on the dashboard, but it doesn't work out the corporation tax from that.

Basically users by 'credits' on my website with real money, they can then redeem these credits for actual money at any time, so the money they pay me is not 'profit' it will need to be paid back at some point which is why I'm trying to work out how I manage this.

I hope that makes sense.

1 Reply

Hello Sean,

By the comments you have made, you will have to just transfer the amounts from the £4k account to the negative £3.5k account.

This will make your credits account almost zero and reduce the actual bank balance by that amount. As you are a Cashbook customer, it will be best to use bank imports for the actual bank account and then the bank import to when the credits are being used.

The corporation tax estimate is based on the difference between receipts and payments. However it is an estimate and it not the real figure which HMRC will request.

Please let me know if this is helpful.

Regards,

Vanish

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