My question is - how does one allocate for expenses (percentage allowed/calculated) which is allowed to be claimed - such as interest on bond, bond payments, cleaning expenses etc., when it is for a sole trader who is using a portion of his home to run the business.
We have a separate bank account for the company. So if one was to do a journal entry - which you need to have a DR and CR - what contra account would be used? You cannot use your bank, as this was not paid from the company's bank. The items would be classed as expenses but not sure how to do the journal entry.