I transfer money to my personal account for a purchase I made for my company with my personal card or cash.
What should I do when I have made purchases for my company with my personal card or cash and need to transfer the money back to my own account?
Take the following steps:
- Take an image of the receipt for the program
- Select "Personal card/cash" as the payment method
- Select "Ask the accountant to review the expense" as the expense type
- You can enter additional information in the message field, if needed (for example, travel paid with personal card)
What if I already have an image of the receipt in the program?
In this case, you only need to edit the payment method and select the correct expense type.
Please note that this payment is not a personal transfer, as the money is not intended for your personal use but the purchase is made on behalf of the company, which means the company owes you money. And now you are repaying that debt. The receipt amount and the transferred amount must be the same.
When the transaction is added as a purchase made with personal card/cash in Procountor Solo, it is recorded in the company's liabilities in accounting. In this case, you can pay the amount to your personal account and record the account transaction in Procountor Solo under the expense type "Ask the accountant to review the expense". Limited liability companies can select "Own purchase/shareholder loan" as the expense type or play it safe and select "Ask the accountant to review the expense".
How to repay expenses to myself?
- Open the "Show payments" tab
- Create a new payment
- Write expense invoice/expense compensation in the message field
- Select "Ask the accountant to review the expense" as the expense type
- Add the receipt of the purchase/travel
If you have already transferred the money to your personal account, simply add the document about the original purchase to the account transaction.
If you have any questions, please contact our customer service by using the contact form or calling 020 7879 840. Our customer service is open from Monday to Thursday at 8.30 a.m.–4.00 p.m. and on Fridays at 8.30 a.m.–2.00 p.m. (we handle contacts until 4.00 p.m.).