we are repaying a loan - monthly - from a former employee, how should I record this?
Hello Jude,
Create a new Liability account called 'Loan from employee'. To record the initial loan, create a General Transaction from this account to the Cheque Account. To record a repayment, create a General Transaction from the Cheque Account to the loan account. Note that this is very similar to a bank loan:
http://www.solaraccounts.co.uk/help/how-to-record-a-bank-loan-and-repayments.php
Regards,
