Categories
Categories label the money going in and out, so your reports and your accountant's export make sense.
Money that's neither income nor costs
Money that's neither income nor costs
These don't affect your profit and they don't count toward your VAT.
Director's loan
Director's loan
Money you lend the company, or take back out.
| Name | Status | Actions |
|---|---|---|
| Director's loan |
Loan from a lender
Loan from a lender
Money the company borrows from a bank or a lender, and the repayments of it. Borrowing isn't sales, so it never counts toward your VAT turnover and carries no VAT. Interest you pay is an expense, not this.
| Name | Status | Actions |
|---|---|---|
| Loans received & repaid |
Dividend
Dividend
Profit paid to shareholders after tax.
| Name | Status | Actions |
|---|---|---|
| Dividends |
Share capital
Share capital
Money put into the company as capital, not as income.
| Name | Status | Actions |
|---|---|---|
| Share capital & capital introduced |
Tax
Tax
Payments to and refunds from HMRC.
| Name | Status | Actions |
|---|---|---|
| Corporation tax | ||
| PAYE & NIC payments | ||
| VAT payments & refunds (HMRC) |
Transfer
Transfer
Money moved between your own company accounts.
| Name | Status | Actions |
|---|---|---|
| Transfer between own accounts |