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Company Loan to an Individual

https://forum.makingithappen.co.uk/viewtopic.php?t=4020

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Company Loan to an Individual

Posted: 26 Feb 2019, 16:02
by Evekarm
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.

Re: Company Loan to an Individual

Posted: 27 Feb 2019, 11:01
by brucedenney
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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