Directors Loan

Dear Sirs,

I am running a limited company and i am bringing in a new director to the company and i would like to know how to record the investment he is bringing into the company, which he wishes to treat as a loan to the company

Posted by Stephen on Mar 25, 2010 1:33 PM GMT

Hi Stephen,

Just create a General Transaction from the Directors Loan account to the Cheque Account. When he is repaid the loan, record another General Transaction from the Cheque Account to Directors Loan.

Regards,

Posted by Mark McLaren (Solar Accounts) on Mar 26, 2010 9:54 AM GMT