Private usage in drawings accounts

Private usage in drawings accounts

Allocate a Private Use Percentage to an Expense Account Code


If you wish to allocate private usage as a percentage of each expense payment made to a particular account:


Step 1: Chart

  1. From the main toolbar, click on Chart
  2. Highlight the required account eg. Telephone
  3. Click Edit
  4. In the GST Details section of the Edit Chart of Accounts window, go to GST Private Use % (only use for part business expenses) and type in what percentage of each bill you would like to allocate to private use
 



Now, when you enter a transaction and use an account that has a private use percentage, that private use will be calculated automatically, as below where account 550E has been used as the private use account.

Enter transaction. You will notice cashbook has calculated a private use percentage amount.



  1. Click OK to save the transaction
  2. Click on the Cancel/Exit button

  1. To see the allocation dissections, click on the Edit button
  2. Click OK to the following information message:


 


Article ID 212