We have just started to run a general store as a family partnership of 4 people. We take out what we need for our own consumption but do we need to account for this in our yearly accounts please?

Fr_Chuck

yes, for many reasons, first the value of this goods can be considered income ( taking company value for perosnal use) also for proper inventory control.

Remember you have to keep all money seperate from personal funds and not treat the property of the company as perosnal.