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MrRobS
September 23, 2021
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Transfers or Dividends

  • September 23, 2021
  • 1 reply
  • 0 views

Hi, I am new to quickbooks and am wanting to use it as a quick and easy way to record transactions, particularly for VAT.
I normally transfer an amount of money from my business account to my personal account every week, and then at the end of the year I work out how much of this is a dividend, wage or personal renumeration with my accountant.

In the meeantime, how do I record these transfers on quickbooks?

Can I put them down as a 'transfer to directors current account'? Or is that the wrong catergory?

 

Many thanks

Best answer by Tash_BewitchingBookkeeping

Morning,

 

That would be the ideal place or you could transfer it to drawings.  As long as it goes to the same place each time and your accountant is aware of where you are transferring it to, then that would work.

 

Have a good day :-)

1 reply

Tash_BewitchingBookkeeping
Tash_BewitchingBookkeepingAnswer
September 24, 2021

Morning,

 

That would be the ideal place or you could transfer it to drawings.  As long as it goes to the same place each time and your accountant is aware of where you are transferring it to, then that would work.

 

Have a good day :-)

M
MrRobSAuthor
September 25, 2021

Thankyou for your reply!

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