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Post Info TOPIC: Sage Instant accounts-directors loan question
Rog101


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Sage Instant accounts-directors loan question
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Hi All,

In the past the members here have been kind enough to help with us with issues we,ve had on Sage.  And I wondered if any of  you could help us again?

 

One of our directors has made a small loan to the company, and I was wondering how we go about entering it on Sage Instant accounts?

 

Any help in this matter would be most appreciate!

With Thanks

Roger



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Peaman


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When you enter the bank (or cash?) receipt (T9) post it to either a loan account in the TB section of the nominal (2300?), or to the directors current account.

If the loan is expected to stay in the business for a while, if it is a significant sum or if the company will be paying interest to the director I would post it to a loan account. If it is just expected to be a short term small loan I would just post it to the directors current account.

If using a loan account, I would re-name the account to include the directors name.

That's how I would prefer it to be entered if a bookkeeper gave me a Sage backup to prepare accounts.

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Richard 
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