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Input of loan to other party

Sage 50 general help forum - Free help and support for all general issues
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cruiser
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Posts: 28
Joined: 23 Sep 2009, 08:30
Sage Version: V09 UK/Europe/Africa

Input of loan to other party

Post by cruiser » 04 Nov 2009, 08:30

Can anybody advise me on what nominal I should use for the following circumstance?
The company has made a loan to another outside party and at present this has been placed in the Suspence account. Should a new nominal be made to place it in and if so what Nominal code should it be allocated too that would allow it to show in the Balance Sheet? Any help would be much appreciated.
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highlevel
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Joined: 05 Nov 2009, 11:37
Sage Version: v2009 15 UK/Europe/Africa

Re: Input of loan to other party

Post by highlevel » 05 Nov 2009, 11:43

Hi There

I would journal it to an account that will show up on your balance sheet .

I would create an account in the Debtors area 1100's - this will then show as a debtor of yours in your balance sheet

Hope that helps.
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cruiser
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Sage Version: V09 UK/Europe/Africa

Re: Input of loan to other party

Post by cruiser » 06 Nov 2009, 09:50

Thanks for the help and all is now clear. Many thanks
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