Year End Accounts
maureen cassidy
Registered Posts: 7 New contributor 🐸
Hi All - please could someone give me some advice.
My partner is just about to submit his first set of accounts covering a 15 month period. He is the only person who works for the company on a part time basis (at the moment) and does not draw a wage. He works from home and there are no real assets, most of his time is computer time, apart from when he is popping out to see a client.
Therefore I guess all we need to produce is a profit and loss account listing his sales - any expenses. The only problem is - is that he paid the expenses privatley and has not yet claimed them back from the company. His year end was December - is he too late to claim these expenses back? They mainly consisted of vehicle rental, private mileage and the odd client meal.
Hope someone can guide me as to setting out his P&L based on the above.
Many Thanks
Moe
My partner is just about to submit his first set of accounts covering a 15 month period. He is the only person who works for the company on a part time basis (at the moment) and does not draw a wage. He works from home and there are no real assets, most of his time is computer time, apart from when he is popping out to see a client.
Therefore I guess all we need to produce is a profit and loss account listing his sales - any expenses. The only problem is - is that he paid the expenses privatley and has not yet claimed them back from the company. His year end was December - is he too late to claim these expenses back? They mainly consisted of vehicle rental, private mileage and the odd client meal.
Hope someone can guide me as to setting out his P&L based on the above.
Many Thanks
Moe
0
Comments
-
Sorry - as he is the director what part of the accounts would he sign?0