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ben M

  • Posts: 4720
how do you pay yourself?
« on: January 29, 2015, 06:45:14 pm »
if you are a sole trader and have a business account?
Still waiting an answer from my accountant :( so wanted to ask you as well
Thanks
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Clever Forum Name

  • Posts: 5942
Re: how do you pay yourself?
« Reply #1 on: January 29, 2015, 06:56:43 pm »
When my mattress gets lumpy I spend some.  ???
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johnny bravo

  • Posts: 2725
Re: how do you pay yourself?
« Reply #2 on: January 29, 2015, 06:59:01 pm »
no one but you knows how much you earn,    you can always keep some back ;D
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Mike #1

  • Posts: 4668
Re: how do you pay yourself?
« Reply #3 on: January 29, 2015, 07:02:34 pm »
Quote from: ben M on January 29, 2015, 06:45:14 pm
if you are a sole trader and have a business account?
Still waiting an answer from my accountant :( so wanted to ask you as well
Thanks

You need a proper accountant , from my earnings after business expenses I spend the rest told my accountant this a few years ago and he was happy with that .  As in spend save for tax bill and pay my household bills

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Window Lickers

  • Posts: 2196
Re: how do you pay yourself?
« Reply #4 on: January 29, 2015, 07:06:57 pm »
Quote from: Mike #1 on January 29, 2015, 07:02:34 pm
Quote from: ben M on January 29, 2015, 06:45:14 pm
if you are a sole trader and have a business account?
Still waiting an answer from my accountant :( so wanted to ask you as well
Thanks

You need a proper accountant , from my earnings after business expenses I spend the rest told my accountant this a few years ago and he was happy with that .  As in spend save for tax bill and pay my household bills



Exactly, its your money. Crack on ;)
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Quote from: C o z y on January 10, 2015, 05:01:20 pm
Liberace's ex looking to meet well built men for cottaging meets.

Joey Eastwood

  • Posts: 400
Re: how do you pay yourself?
« Reply #5 on: January 29, 2015, 07:29:10 pm »
errr... in cash?? what goes thru the bank pays the bills the cash goes in pocket..
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when life throws you water, clean windows

jimiwindows

  • Posts: 537
Re: how do you pay yourself?
« Reply #6 on: January 29, 2015, 07:47:02 pm »


 Massage with a happy ending.
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ChumBucket

Re: how do you pay yourself?
« Reply #7 on: January 29, 2015, 07:49:34 pm »
Quote from: ben M on January 29, 2015, 06:45:14 pm
if you are a sole trader and have a business account?
Still waiting an answer from my accountant :( so wanted to ask you as well
Thanks

I would imagine your Accountant will get back to you once he's stopped p***ing himself laughing!! ::)roll ;D
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Stoots

  • Posts: 6375
Re: how do you pay yourself?
« Reply #8 on: January 29, 2015, 07:56:18 pm »
Quote from: Joey Eastwood on January 29, 2015, 07:29:10 pm
errr... in cash?? what goes thru the bank pays the bills the cash goes in pocket..

 ;)
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CleanClear

  • Posts: 15491
Re: how do you pay yourself?
« Reply #9 on: January 29, 2015, 08:23:52 pm »
Quote from: ♦ChumBucket♦ on January 29, 2015, 07:49:34 pm
Quote from: ben M on January 29, 2015, 06:45:14 pm
if you are a sole trader and have a business account?
Still waiting an answer from my accountant :( so wanted to ask you as well
Thanks

I would imagine your Accountant will get back to you once he's stopped p***ing himself laughing!! ::)roll ;D

 ;D ;D  I'd of loved to see the accountants face when he asked him !!!
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*Status*--------Currently Online---------

capn sparkle

  • Posts: 567
Re: how do you pay yourself?
« Reply #10 on: January 29, 2015, 09:22:47 pm »
Quote from: ben M on January 29, 2015, 06:45:14 pm
if you are a sole trader and have a business account?
Still waiting an answer from my accountant :( so wanted to ask you as well
Thanks


Me - Pounds Sterling or anything with the Queens face on it!!

You - Francs, Euros or cheese.
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Joey Eastwood

  • Posts: 400
Re: how do you pay yourself?
« Reply #11 on: January 29, 2015, 09:25:26 pm »
Quote from: capn sparkle on January 29, 2015, 09:22:47 pm
Quote from: ben M on January 29, 2015, 06:45:14 pm
if you are a sole trader and have a business account?
Still waiting an answer from my accountant :( so wanted to ask you as well
Thanks


Me - Pounds Sterling or anything with the Queens face on it!!

You - Francs, Euros or cheese.

cheddar slices for a bungalow, wedge of wensleydale for a 3 bed semi and grated parmesan for anything bigger?
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when life throws you water, clean windows

PoleKing

  • Posts: 8974
Re: how do you pay yourself?
« Reply #12 on: January 29, 2015, 10:07:23 pm »
Everything goes into the business bank account.
Every monday, i deposit last weeks money.
1st of the month a DD pays across to a business savings account for the tax bill due at the end of the year.
28th of the month, my salary DD's to our joint personal account.
Tax money is more than my bill will be, so, christmas bonus with whats left over.
Joint DD covers all our usual monthly bills inc beer money.
If it gets low, i transfer over some more. Probably 3 times a year.
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www.LanesWindowCleaning.com

It's just the internet. Try not to worry.

ascjim

Re: how do you pay yourself?
« Reply #13 on: January 30, 2015, 06:53:26 am »
All my earnings go into my business account, then I bacs my personal account each month.
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Mike #1

  • Posts: 4668
Re: how do you pay yourself?
« Reply #14 on: January 30, 2015, 07:07:06 am »
I very rarely put cash in business account as I have to pay for the privilege . It goes in my personal account then I transfer to Isa etc
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dave0123

  • Posts: 3553
Re: how do you pay yourself?
« Reply #15 on: February 02, 2015, 05:51:30 pm »
Any money taken out of your business account as a sole trader to pay yourself or personal items would go down on your set of accounts as drawings on your balance sheet.
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Dave.
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