Hi,
I would much appreciate if someone could help me to record a write off of a company debt. I, as a director borrowed to the company some money and purchased a desktop. I would like to write off that debt that company owes to me. I would much appreciate if I could get some help.
Many thanks
Zak
Hi Zak,
>From your description it sounds like you lent the company money which it
used to buy a desktop computer, and the company will not pay back the
loan. In that case I think you should record that as a General Transaction
from the 'Uncategorised Income' account to the 'Directors Loan Account'.
However, I'm not an expert on this topic - please check this treatment with
your accountant.
