Verify who made the repayment and which advance it settles before allocating a personal-account receipt to a consultant balance. The bank narration alone may not establish whether the payer is the contracted consultant, an employee or another person.

Accounting records, calculator and glasses on a desk
Illustrative photograph by Cht Gsml.

Connect the receipt to the contract

Keep the original advance approval, contracting entity, purpose, amount and payment evidence. Record the actual remitter information available through the company's banking records and the explanation supplied through an established contact route.

If the consultant trades through a company, ask why a personal account was used. Do not assume that a director's personal payment automatically settles the company's liability. Refer uncertainty about third-party discharge or disputed ownership to the appropriate adviser.

Obtain an allocation explanation

For example, a consultant's director returns only the unused travel portion of an advance. Ask for the breakdown identifying expenses, the amount returned and any remaining balance, together with confirmation from the proper contracting party.

Distinguish repayment of unused funds from a fee reduction, refund or unrelated receipt. Each may require different supporting documents and accounting treatment. Do not force the bank receipt into consultancy income merely because the balance is difficult to trace.

Reconcile the remaining position

Give the accountant the contract, explanation, bank receipt and outstanding advance schedule. Retain the approved allocation and any further evidence requested. A partially cleared advance should keep its remaining amount and follow-up owner visible.

Use restricted storage for personal banking details and share only what the reviewer needs. Resolve the actual transaction before changing future payment instructions; an unusual repayment is not authority to replace a consultant's approved bank account.

Related practical guidance

For the surrounding records and responsibilities, see bookkeeping basics, company records to keep, bookkeeping and accounting.

Official guidance: the relevant official guidance.

Help with your company records

For accounting, bookkeeping and related compliance support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.