Hi Peter, just setting up our finances in Bullet, can not find how I record owners drawings, cash taken out of the business by the owner

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Hi Peter, just setting up our finances in Bullet, can not find how I record owners drawings, cash taken out of the business by the owner

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Peter Connor ⋅ Staff February 12, 2017
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Hi, are you talking about sole trader drawings.

#answer-4873
  1. Mcgillg22 February 12, 2017
    We are a LTD, the director has taken cash out, simular
  2. Peter Connor February 12, 2017
    Nope, just salary and expenses is the only way you can withdraw money from a limited company
  3. Mcgillg22 February 12, 2017
    ok if I select expense, it wants me to enter a bill !
  4. Peter Connor February 12, 2017
    Correct. You can't just take money out of a company. To do that you need to pay yourself via a salary.
  5. Mcgillg22 February 12, 2017
    thanks
  6. Peter Connor February 12, 2017
    Sure. Drawings for sole traders, salary/expenses for limited company.

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