Hello, I’m new to Manager (and not an accountant) and would like to know the best way to record online business purchases (paid for directly with the business’s bank card) for a UK business. Do I:
(1) Raise a purchase order (which isn’t sent the supplier), create a purchase invoice against this purchase order, and then spend money against this invoice,
or (2) Simply ‘Spend Money’ from the bank account?
For record purposes, which way would the HMRC/an accountant prefer to see it done?