Yes "money out of the company into my personal bank account" can be at
least four things I can think of right off:
1. Expense (spread out payments or not)
2. Repayment of Liability
3. Dividend
4. Draw
But I think the further details about the selling of equipment at least
shows that this isn't (likely) anything but a simple expense for the
company.
Regards,
Adrien
On 12/10/21 1:39 AM, Liz Dodd wrote:
On Thu, 9 Dec 2021 19:38:16 -0800
Stan Brown <[email protected]> wrote:
"money out of the company into my personal bank account" -- that seems
pretty clear to me that the company is lending the director money, not
the other way round.
not if it is a repayment
So we are not completely clear about the circumstances.
LIz
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