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A
AFSllc
June 6, 2024
Question

when you payback short term business loans to partners do you include interest under that catagory or another?

  • June 6, 2024
  • 1 reply
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what category do you choose when you payback short term loans from business partners and do you use the same category for the interest or is another category you should use? 

1 reply

BigRedConsulting
BigRedConsulting
June 28, 2024

Probably use the same category you used when receiving and depositing the loan money, which will normally be a liability account or an equity account.

 

Interest is a different category, an expense.

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