Forum Message

Recording Interest-Free Loan

Hello

How would I record an interest free loan to a friend?

Thanks


Posted by Christopher Knight on Jul 8, 2020 10:01 AM BST

Hello Christopher,

To record an interest free loan to a friend, create a new Asset account
called 'Loan To Friend', then create a General Transaction from the Cheque
Account to the Loan To Friend account. When the friend repays the loan
create another General Transaction in the opposite direction.


Posted by Solar Accounts Customer Support on Jul 8, 2020 5:16 PM BST

Thank You Mark


Posted by Christopher Knight on Jul 8, 2020 5:41 PM BST