I am using VT Transaction + for bookkeeping. The company credit card was used to make payments to a supplier online for ebooks and newspapers. These payments are entered on supplier's account without any purchase invoices as there aren't any. I need to charge these to the Director's Loan Account. I do not know how to. Can you, please, help?
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Why not post the company credit card statement as a purchase invoice and code the relevant transactions to the DLA?
Then match the payment to the invoice.
Regards,
Gary
Hi Gary,
Sorry I have just seen your response. Many thanks for that.
I have been entering the individual bills on the supplier's accounts and paying by the company credit card (CCV).
Are you suggesting I enter, all of the business credit card statements as purchase invoices or just the ones with director's purchases on them. Also the credit card statement will have other entries on them as well. Shall I just enter the director expenses as purchase invoices or the whole of statement.
I am sorry about all the questions.
Kind regards,
Oki1970
Expenses claim form?
Ideally the monthly credit card statement should be accompanied by a properly authorised expenses claim form which mirrors all the transactions on the statement and strips out the VAT (if applicable).
You could set up a supplier account for Director X and post the claim form as an invoice or set up a supplier for the credit card company (VT includes one by default i recall) and post the analysed credit card statement as an invoice.
I would post all the transactions from the expenses claim or credit card statement (and attach the receipts) rather than post individual transactions to seperate supplier accounts.