How to record Directors Loan?

instint
instint Member Posts: 13 Novice Member Novice Member
in Accounts Hosted

I would like to know how to record Directors loan.

Answers

  • Kris_Williams
    Kris_Williams Member Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    This is how I handle it - if the director has lent the money to the business it will be a Current Liability account. If the reverse it will be a Current Asset account - no tax code

  • cosmic
    cosmic Reckon Developer Partner Posts: 1,124 Reckon Legend Reckon Legend

    And make sure your Tax Accountant is aware if you have a Debit Loan a/c !

    Cosmic Accounting Group

    Accountants and Tax Agents 22397009

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