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Post Info TOPIC: Difference between Directors Loan Account, Directors Renumeration and Directors Salaries Nominal Codes ????
liseloo79


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Difference between Directors Loan Account, Directors Renumeration and Directors Salaries Nominal Codes ????
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HI Folks

 

Sorry if I am being a little dumb here but can someon please explain the differnce between the following nominal codes and their uses........

Directors Loans

Directors Remunertaion

Directors Salaries

Thank you

Lisa



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NickCraggs


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Hi Lisa,

Are you refering to sage nominal codes?

Directors loans are the amount that the company owes the directors (although sometimes it is the other way round) and should be a liability, in sage they should be in the 2000s.

Directors remuneration and salaries are the amount that the directors are paid for their work.  This is an expense to the company and should appear in the 7000s in Sage.

Directors remuneration may also include bonuses among other things.



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Nick 

Nick Craggs FMAAT ACA  AAT Distance Learning Manager

@nickcraggs 

BKN Tutor of the Year 2013 & 2015


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