- Original Poster
- #1
Hi
To record travel expenses for my limited company (in Xero), I currently enter one Bill for each trip with me as the Contact and a line item for each claimed expense. I then pay the Bill from the DLA. I use my personal credit card for everything. I think this is all fine from a bookkeeping perspective.
I'm likely to move to using my company credit card more. How should I record the expenses?
I see the following options:
Appreciate thoughts.
Thanks
Abo
To record travel expenses for my limited company (in Xero), I currently enter one Bill for each trip with me as the Contact and a line item for each claimed expense. I then pay the Bill from the DLA. I use my personal credit card for everything. I think this is all fine from a bookkeeping perspective.
I'm likely to move to using my company credit card more. How should I record the expenses?
I see the following options:
- Continue as now, with one Bill and me as the contact. Do partial payments from the credit card account for those line items paid using the card, and pay the rest from the DLA.
- Do individual Spend Money transactions for every use of the card on a trip.
- use me as the contact, or,
- use the actual vendor, or,
- use a dummy vendor (e.g. Misc Expenses)
Appreciate thoughts.
Thanks
Abo
