Wages into Personal Account instead of Business LTD

PeterJames123
PeterJames123 Posts: 104
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edited 12 December 2023 at 2:15PM in Small biz MoneySaving
Hi,

I am a Contractor with my own LTD company. For the past 3 months I have been carrying out IT work for a few companies and instead of paying the money into my Business account all 3 have paid the money into my personal account due to my own stupidity having the wrong bank account details on my invoices. I now need to put the money back into my business account all 3 payments but how would I do this properly without looking dodgy especially now that I am trying to apply for a mortgage. 

Comments

  • uknick
    uknick Posts: 1,604
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    I'd just transfer it and leave a comment in your accounts explaining why the receipt came from your personal account.  If you're running your accounts with proper accounting software there should be a place to record the comment against the receipt.


  • I had a similar situation where I did some freelance work for a former employer after I went self-employed and despite me giving them my business account details on the invoice, they put the money in my personal account that they still had on file. I just transferred the money over to the business account with the invoice number as reference and made sure that I also left a note in my accounts so that I didn't forget what had happened. I don't use accounting software, just spreadsheets - but they serve the same purpose. 
  • Penguin_
    Penguin_ Posts: 1,190
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    Transfer the funds & have the reference on the payment show as "<Insert company name here> Job"
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