How do I reconcile an asset purchase made by the company from one of the directors (PC that was personal property being transferred to company)? For instance, is this put through as a bill or bank transfer?
How do I reconcile an asset purchase made by the company from one of the directors (PC that was personal property being transferred to company)? For instance, is this put through as a bill or bank transfer?
You're director can send you an invoice just like a supplier, or he can give you the receipt and claim it as an expense. All depends on when it was bought etc.
A bill is a bill, anything the bank has to pay is a Bill.
A transfer is simply shifting money from one account to another. You transfer money to your credit card account. Your credit card pays the bills.
Hope that helps.
Pete