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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5147
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Hi question is I have a Limited company - non VAT

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Hi question is I have a Limited company - non VAT registered. If i pay £3151.35 for petrol.. the double entry being debt travel and credit bank.
What is the double entry to transfer the mileage claim to the DLA - it has not yet been repaid to the Director??

Hello and welcome to the site. Thank you for your question.

The double entry would be

Debit travel
Credit DLA
being mileage allowance not repaid and credited to director's loan account

When this money is repaid
Debit DLA
Credit Bank account

I hope this is helpful and other Tax Specialists are ready to help you
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Best wishes.