UK petty cash from credit card

[anha]

Hi. I got a question about petty cash. We are withdrawing money from company credit card to put the cash into petty cash and then buy postage stamps, milk and day to day items. How do i account for this? In particular the credit card withdrawal? Thank you!!

 

[khan102]

You need to dr petty cash account and credit credit card GL account. From there when money is used then Dr expense account and credit petty cash account.