I need to repay an amount I erroneously overpaid myself in an previous expenses claim, which has been reimbursed. I want this recorded as a debt until I repay it. I am a director so how can I do this?
Many thanks.

Hi Andrew,

Record a General Transaction from the appropriate expense account to 'Directors Loan Account'.

When you repay the debt, record another General Transaction from Directors Loan Account to Cheque Account.

Regards,

Be aware though at present 2009/2010 that if your Directors Loan extends into next years accounts you maybe liable for corporation tax on it. At the moment its 25% on directors loans unless paid back to the company with a certain time frame.