A few accontancy related questions - a small LTD company

[SourChocolate]

Hello,

I have a few questions in regards to keeping books up to date and "how to do stuff" (it is a small limited company).

I try to keep records of expenditures and earnings up to date, i.e. on a monthly basis. I use VT+ for this and it seems to be a good tool for keeping track of my records. Now, I have few questions:

1. When the company was incorporated, I transferred a certain amount of my private money to company's bank account to get things started. Now I want it back but the question is which account these operations should be assigned to? (i.e. Analysis Ledger & Analysis Account options in VT+)

2. A while ago I purchased necessary computer equipment. Not sure if it matters but these were individual components which have been assembled into a required machine (total value of purchased parts about £350) - again which account(s) these parts should go to?

3. Together with computer parts, some software has been purchased as well - which account should it go to (MS Windows etc., value < £150)?

4. And the last question - domain names - which accounts in VT+...?

It would be great if someone could list these accounts since some of them may look like obvious ones but in the accountancy world nothing seems to be obvious to me ;)

Have a nice Sunday

S.

[CassioAcc]

if you introduced money into your company bank account then how is this shown? I assume it must be in VT if you are reconciling the bank.

The normal way to do this is to record it as a directors loan which you can draw on.

Your other expenses can be recorded against the relevant expense accounts. If they do not exist then create them or use something close.

[SourChocolate]

Hello,

thank you for your reply.

Money introduced into the company's bank account sits currently under "Creditors" -> "Director's account"
Is it ok and can I use the same account to take money out of the company?

In terms of costs - will the following ones work?
equipment: "Expenses" -> "Equipment expensed"
software: "Expenses" -> "Software"
domains: "Expenses" -> "Domain purchase" (a new one)

S.