SageForum for UK versions of Sage 50- Help and support.

I'm a Sage newbie and would like to create a Director's Loan Account Nominal Code. My accountant has advised me to use code 1300 but is not a Sage user himself.

I know how to create a new nominal code under an existing one but don't know WHERE to create the Director's Loan Account.

I am using the Sage default chart of accounts for the General business type. The only 1xxx codes are under Total Current Assets. The 10xx are under Stock, the 11xx are under Debtors and the 12xx are Banks. Do I create 1300 under the top level of Total Current Assets, under the debtors or somewhere else? I know the placement is crucial to the way that Sage calculates the profit and loss so want to make sure I get it right.

I've searched the net for hours but not found an answer to my query. Can anyone help me?

Total Current Liabilities is the best place to put it as technically the company owes the directors so I would stick it in the 2000's not 1000's.

I'm AAT and have been using Sage for years.

Hope this helps.

Depends on if the loan is to the director or from the director.

If to use 11xx

if from use 21xx

1300 seems plain wrong to me.