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NewCoUK
August 23, 2023
Question

Director's Loan - logging expenses paid by director

  • August 23, 2023
  • 1 reply
  • 0 views

Hi everyone. I have a quick question on entering company expenses paid on personal Credit Card.

 

Have made expense entries like the screenshot below and the balance of the Dir Loan account shows as a negative number, does this look correct?

(i.e. the company now owes the director that total amount).

Thanks!

1 reply

A
Ashleigh1
August 23, 2023

 Hello NewCoUK, thanks for posting on the Community page,  so it is showing as a payment to the credit card, since credit card is a liability account, you should have used credit card payment type of transaction, so it will show as charged (something that needs to be paid) in the credit card account and will show negative on the directors loan if there is no outstanding balance on the loan account.

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