Vehicle mileage

1

Hi there
I am trying to understand expense claim.
I am Limited with two directors and trying to make correct entry for vehicle mileage. I am not sure about affect I will get with this entries and which option is the correct one or where is the misteak

1 - Entry Mileage for payer - member (me) - funds contributed
I dont have to reimbursment myself. It will affect only capital subaccount (funds contributed)- Equity

2 - Entry Mileage for payer - member (me) - expense
I dont have to reimbursment myself. It will affect Equity - shares and expanse (P&L)

3- Entry Mileage for expanse claim payer - (still me)
Affect liabilities - expanse claim and expanse (P&L)
In this case I have to make a journey. But then it will affect expanse and spending money

Option 1 investment, increase my income, can’t see it is the allowance
Option 2 i feel this is the most logical
Option 3 Am I not spending money twice… in expance and in spend money?

2

Then option 3 is your only choice. Equity is for the value of the issued shares ONLY, it shouldn’t be added to by expenses claims transactions.

Under Settings - Expense Claim Payers set up the directors.
Expense Claim Payer will be a director.
This will “Affect liabilities - expense claim and expense (P&L)”

Then you have two options:
1 - pay the director via Spend Money with the account being Liabilities - Expense Claims, or
2 - Transfer (Journal) the expense claim to a Liabilities - Directors Loan A/c

The Equity Issued Shares values shouldn’t be changed unless you are issuing more shares.

3

Thank you Brucanna for your time. Much appreciated it