How to enter Director's expenses in sage?

Discussion in 'Accounts & Finance' started by tzb27, Jun 4, 2012.

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  1. tzb27

    tzb27 UKBF Newcomer Free Member

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    How to enter director following expenses(paid by them) in sage instant account?

    Food and drinks (Consumed while working e.g Coffee, Sand wishes and restaurant meals)
    Travel (Oyster top ups for business commuting)
    Flat rent (used for work purposes as well) but paid as cash to landlord.

    what nominal accounts should be used for above expenses?

    I know these are basic questions but i am all new to Sage and book keeping.

    Thank you very much for all the help so far.
     
    Last edited: Jun 4, 2012
    Posted: Jun 4, 2012 By: tzb27 Member since: Feb 20, 2012
    #1
  2. Scalloway

    Scalloway UKBF Legend Free Member

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    As these are not business expenses these should be coded to Director's Loan Account. This account will be a current liability.
     
    Posted: Jun 4, 2012 By: Scalloway Member since: Jun 6, 2010
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  3. tzb27

    tzb27 UKBF Newcomer Free Member

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    I am putting Oyster Top up under Travel Expense Nominal Account

    Which Nominal Accounts i should use for
    Food and drinks (Consumed while working e.g Coffee, Sand wishes and restaurant meals)

    Flat rent (used for work purposes as well) but paid as cash to landlord.

    Do i need an invoice for Flat Rent as well??
     
    Posted: Jun 4, 2012 By: tzb27 Member since: Feb 20, 2012
    #3
  4. ART Accounting

    ART Accounting UKBF Newcomer Free Member

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    With regards to the Oyster travel card expense - is this used for travelling to/from business meetings or travelling to/from your place of work?
     
    Posted: Jun 4, 2012 By: ART Accounting Member since: May 20, 2012
    #4
  5. tzb27

    tzb27 UKBF Newcomer Free Member

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    Business Meeting and visits to client premises to discuss employees performance. I am using Nominal code 7400.

    Please guide me which Nominal codes i should use for other expenses.
     
    Last edited: Jun 4, 2012
    Posted: Jun 4, 2012 By: tzb27 Member since: Feb 20, 2012
    #5
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