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Jun 1, 2022 10:55 AM UTC
Question

How do I input directors loans and loans then loan repayments without them been a income or expense

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1 reply

Jun 1, 2022 1:34 PM UTC

Hi m-millersportslt, thanks for joining the Community 🙂

 

You can record a directors loan by creating a bank deposit (cog > bank deposit), selecting the date and bank account that the loan was received to, and then scrolling down to 'add funds to this deposit' to enter the directors loan account and amount (please first change the 'Amounts are' drop-down to No VAT). 

 

Repayments can then be entered using an expense transaction (cog > expense), with the directors loan account and amount entered under the 'category details' line. Once saved, this will reduce the amount owing in the directors loan chart of account.