Recording an asset paid with personal money

Occasionally you may incur a larger expense such as a new laptop or tablet. As these items have a longer life and are typically worth more than £200, they are classed as assets instead of expenses. These need to be recorded slightly differently in Provestor.

Recording a asset paid for personally

  1. In the menu bar, click Expenses to record and view personally incurred expenses

  2. Select the name of the person that incurred the cost of the asset

  3. Select in the menu if the expense will be reimbursed directly or via payslip (If you don't have a PAYE scheme, expenses will need to be reimbursed directly)

  4. Click the enter new transaction button then select asset

  5. Enter the details of the asset for reimbursement

    1. Date - as shown on the receipt

    2. Paid to - the suppliers name

    3. Description - an understandable description of the item or service

    4. Amount - cost inclusive of any VAT

    5. Ref no - optional

  6. Click save

If the asset was paid from a business bank account, record it your bookkeeping screen