Mistaken Use of Company Card!

[Peter Loew]

I recently put something through expenses but now realise this was an error. Do I simply transfer the credit back into the company? Is there anything specific I should do?

P

[xoggoth]

Best avoided but there is no specific rule against using a company account for personal items, only with claiming it as valid company expenditure. Just mark it as a payment to director's personal account.

[r0bly0ns]

When I have done this in the past as a permie, my boss just said to claim the next lot of expensesd as normal, but he would knock off the overpayment out from what he gave me.


e.g:
month 1 overclaim by £50
month 2 claim £100, actually receive £50



I haven't got a clue how he recorded it in his books though.......

[malvolio]

When I have done this in the past as a permie, my boss just said to claim the next lot of expensesd as normal, but he would knock off the overpayment out from what he gave me.


e.g:
month 1 overclaim by £50
month 2 claim £100, actually receive £50



I haven't got a clue how he recorded it in his books though.......

Treat it as a director's loan. On the books you pay the expenses in full, and enter a credit, marked as "Repayment of loan", for the overpayment, then send yourself the balance. That way you keep the audit trail and as long as no interest is charged on either side it's all fully legit.