How to pay a reimbursement into a directors loan account

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I'm just wondering how to enter into reckon a reimbursement for a director back into his loan account (asset account). He paid for something with his personal cash, and wants that money to be reimbursed into his loan asset account.
What would be the correct procedure here? Any help would be much appreciated.

Kind regards,
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Linda Taylor

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Posted 1 year ago

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Shane, Employee

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Hi Linda,

Probably this would need to be entered via a general journal.  The exact setup of the journal I can't help with as you would need an accountant's assistance with that, such as which accounts to use and which amounts, tax codes if applicable.