Owner introduced funds

Thank you :-)

Hi Clare

You need to create what's called a Directors Loan Account under bank accounts (I did an old blog on DLA's if you don't know what one is http://platformaccounting.com/directors-loan-accounts-who-what-where-when-and-why/)

You would then class the cash injection as a transfer between DLA and bank account.

Hi there, how does this process change for a limited company? We have introduced an initial amount into the business which we expect to repay after our first sales invoice has been paid.

Many thanks

Thanks for your help Kevin, all sorted! :-)

Thanks Kevin,

Spot on as always :-)

Thanks for covering this.

Grace, I hope this all works for you now and if you should need anything else at all, please let us know.

Many Thanks

Chris

Thank you, I will get on it straight away :-)

Hi Kevin, It's a self employed business :-)

Hi Grace

Are you self employed or a limited company?