Directors takings

Yes, you can record director takings in QuickBooks, @info-loughwellfa.

Recording directors taking in QuickBooks Online is just easy steps. I'm happy to outline that with you. 

To start, let's set up a liability account to record what your director owed for a long time. Do the following:

1. Go to the Accounting tab on the left side, then choose Chart of Accounts. 
2. Click the New button.
3. In the Account Type drop-down, pick Current Liabilities.
4. Select Loan Payable in the Detail Type field. 
5. Type a unique name in the box. 
6. Click Save and close. 

After that, create a Journal Entry to record the money you got from the loan. I'll show you how: 

1. Go to the +New and select Journal entry.
2. Select the liability account you just created from the Account drop-down and enter the loan amount in the Credits column.
3. Select the appropriate bank account from the box and type the amount in the Debit field. 
4. Click Save and close. 

Once done, enter the repayment of your loan by creating a check. See this article for the steps: Set up a loan in QuickBooks Online.

Once everything is in place, you can always run the quick loan report by going to the Chart of Accounts page. This way, you can review the transactions with the remaining balance. Refer to the example screenshot below for guidance.

I've also added articles about managing vendor transactions, information, and related topics. 

• Track customer loans
• Manage Suppliers and Expenses

Drop a line if you have a follow-up question on this matter. I'm always here to work with you again. Keep safe, info-loughwellfa.