Simple Double Entry Question
snez
Registered Posts: 5 Regular contributor ⭐
Client claims an allowance for Use of Home as office. Previous accountant has included this is P&L for the year. So my simple question is, what is the double entry for this ? Debit P&L, credit ??
I have initially credited the Clients Capital Account - is this correct ?
I have been looking at this for so long, I have gone cross eyed.
Any advice would be gratefully received.
I have initially credited the Clients Capital Account - is this correct ?
I have been looking at this for so long, I have gone cross eyed.
Any advice would be gratefully received.
0
Comments
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Client claims an allowance for Use of Home as office. Previous accountant has included this is P&L for the year. So my simple question is, what is the double entry for this ? Debit P&L, credit ??
I have initially credited the Clients Capital Account - is this correct ?
I have been looking at this for so long, I have gone cross eyed.
Any advice would be gratefully received.
Where i work we debit use of home which is debit P&L and credit drawings on the balance sheet. Hope that helps!0 -
I agree with Becky thats how I do it where I work as well0
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Drawings - of course. Thank-you :-)0
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