Hi,
Just started using the software trial and like it a lot so far!
I've made some personal cash payments for computer hardware and software for the company (pre trading). I have created a computer hardware asset account and a software expense account and showed the payment as petty cash.
I'm not the company owner or director. I'd lke to enter the cash amount as a loan and then balance the petty cash. How is this best achieved?
Thanks,
Pete
Hi Pete,
We're glad you like the software!
You will need to create a new liability account called 'Loan From Pete Murphy', then record a General Transaction from this account to the Petty Cash account in a similar way to recording a bank loan:
http://www.solaraccounts.co.uk/help/how-to-record-a-bank-loan-and-repayments.php
Note also that you can leave out Petty Cash and simply record the payment for the computer as coming from the 'Loan From Pete Murphy' account.
Regards,
