Hey there,
I've got a limited company & two different business. I don't want to get the two different business' expenses muddled up, they are also both quite small.
What would you recommend me do?
I've considered using different trade names for both businesses & creating separate bank accounts for them too.
Please help, thank you.
Stay safe & have a great day.
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Replies (8)
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Since I know nothing about your circumstances, nature of business etc I cannot possibly comment. Other than to echo the comment above - best to engage an accountant.
As you receive your invoices etc for expenses you should separate them as soon as possible. Keep a separate file for each business. If you use a manual cash book have separate columns. If you are using software have separate accounts headings.
The company can only submit accounts with one profit and loss.
Keeping the trades seperate is only for your understanding.
