UK he was using the business card as a personal card and confused please help

Nov 12, 2021
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United Kingdom
Hello, I studied accounting in school a few years ago but never used anything I learnt before.

One of my friends approached me asking me to help them sort out their financial statements and also help with their end of year tax. He has registered his business as a limited company. He also has a business debt card. This company is new and has approached the time for it to produce its first financial statements.

I asked him to send me his business card statements so I can add the entries to the journal.

As I’m going through his statements, I see he has been using the business card as a personal card too. He has been using the company money to buy groceries. What can I do in this case? What account do they get registered as or do they get ignored?

Any help would be highly appreciated


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