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kimmcg


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Quick question....
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My first client is a part time window cleaner - how do I show his mileage?  His car is obviously not used for sole business use, so he records the mileage whenever he uses it for work.

Would it be:
Dr Motor expenses
Cr Drawings

Thank you

Kim

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RobH


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Dr motor expenses, cr capital introduced

He is probably paying for his fuel from his cash taking, so debit what he spends personally (including fuel) to drawings but then cr capital introduced with mileage at 40p per mile (first 10,000 business miles)

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Rob
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kimmcg


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Thanks Rob,

Also I read a previous thread about putting a small amount through for working from home to cover utilities - around £3. As he uses phone/computer at home to contact his clients - how do I show this

Dr general expenses
Cr ????

Sorry for the stupid questions, just didn't cover all these little bits in my course and obviously want to start off on the right foot.

Thank you

Kim

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RobH


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Hi Kim,

questions aren't stupid, the good thing about this forum is that we all help eachother. I just learnt that Flavius Aetius defeated the Huns!!

I would normally set up an account called 'use of home as office' and debit that at the end of the year and cr 'capital introduced' Any expense that there hasn't been an actual parting of money for, mileage, use of home, laundry etc always credit 'capital intro' as that's exactly what is happening, the trader is putting their own money into the business in effect.

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Rob
www.accounts-solutions.com
kimmcg


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Thats great thanks Rob

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