Hello. I have made some company expenses which I paid from my own cards (as a director) – I have not invoiced yet. What is the best way to add them as Money Out?

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Hello. I have made some company expenses which I paid from my own cards (as a director) – I have not invoiced yet. What is the best way to add them as Money Out?

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Peter Connor ⋅ Staff October 9, 2016
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Hi,
Are you an Irish based company?
Pete

#answer-4243
  1. vouch October 9, 2016
    yes
  2. vouch October 9, 2016
    am still waiting for the tax registration and vat
  3. vouch October 9, 2016
    so cannot invoice
  4. Peter Connor October 9, 2016
    Hi,
    You pay expenses via our payroll. When you pay for something you'll see your name as a possible payee. I created a video for you here. http://recordit.co/f0ZjUvKuna
    Then go and pay yourself (you can set the wages as zero) and you'll see expenses in the expeneses field see here. http://recordit.co/87VIU8czyJ If you have 10k in expenses but you just want to withdraw 1k simply change the amount in that box.
    Hope that helps.

    Pete
  5. vouch October 9, 2016
    thank you for this - but how do I record the expense?
  6. vouch October 9, 2016
    it requires a bank account but I only have the business bank account and the money have been spend via a personal debit card
  7. Peter Connor October 9, 2016
    You need to add yourself as an employee, then when you add the bill/expense just pick your name as the payee. Look at the video and you'll see.
  8. Peter Connor October 9, 2016
    What requires a bank account?
  9. vouch October 9, 2016
    the money out add bill expense, standard bill, expense or purchase
  10. vouch October 9, 2016
    i thought that is where I need to add any expenses that I personally paid for as a director but they are in fact business company expenses
  11. Peter Connor October 9, 2016
    You add expenses all in the one place, who paid for it defines where it goes after that.
  12. vouch October 9, 2016
    ok thank you! I shall watch the video and come back if there are any more questions - I will also set up a payroll but I do not have the ROI codes yet.
  13. vouch October 9, 2016
    can I set one without the codes?
  14. vouch October 9, 2016
    all I have is my PPSN
  15. Peter Connor October 9, 2016
    It's best you don't.
    You need to contact ROS and get yourself added to the company as an employee. Then ROS will generate a P2C file for you. That fill will have all your correct information.
    Import that file into Bullet, and you'll be setup correctly. Don't try and set yourself up manually, it always ends in disaster. :)
    Pete
  16. vouch October 9, 2016
    Understood - thank you for this! I am still waiting for the tax codes for the limited company (via a TR2 form) so this needs to come first before I can apply to ROS.
  17. vouch October 9, 2016
    I will wait..
  18. Peter Connor October 9, 2016
    Cool.

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