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PJ333
July 23, 2021
Question

How to record correctly record wages not taken as directors loan?

  • July 23, 2021
  • 1 reply
  • 0 views

I am using QB Online and have an accountant who processes a payroll for myself within the business. Currently, I am not taking wages from the business and I wondered if there was a correct way of attributing the wages to the directors loan account without having to pay myself and then transferring the money back to the business and marking the income transaction as a directors loan?

 

Is there a correct way to do it without transferring the money out of the company bank account?

 

Thanks

1 reply

A
Ashleigh1
July 23, 2021

Hello PJ333, 

 

Welcome to the Community page, 

 

This is more of an accountant Question we are not trained accountants so we would suggest you double check with them on how to do this. You would just put the money into the directors loan account and then journal the money to were ever it needs to go but like i say your best of speaking to a trained and qualified accountant on this. 

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