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Company Loan to an Individual

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Evekarm
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Joined: 26 Feb 2019, 15:51
Sage Version: US Sage 50 Version (Peachtree)

Company Loan to an Individual

Post by Evekarm » 26 Feb 2019, 16:02

The company lend money to an individual with an interest. Do I need to record it as a bank payment? and if yes which will be the nominal code and how I can post the entry to the balance sheet as a debtor
Any assistance would be greatly appreciated.

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brucedenney
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Sage Version: v28 UK/Europe/Africa

Re: Company Loan to an Individual

Post by brucedenney » 27 Feb 2019, 11:01

Hi

You need to use the "Other Debtors" nominal code in the balance sheet to do this as a Bank Payment.

It is not a Trade Debtor so this is the proper way to do this.
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