Hi charliez , that's correct, and it increases the loan account, I was slightly confused in that I took from your first post that head office expected it to reduce.
Hi charliez , the sales invoices are debtors, so both them and the loan account are assets and can't be offset. I suggest you point this out.
OK... so here's what I've done.
I've changed the Asset Type of the loan account from "Other Asset" to "Bank".
I then recorded a payment for the outstanding sale invoices, using this loan account as the "Deposit to Account" ... effectively increasing the loan to the parent company.
Seems to work OK. Is there anything I should be aware of?
Hi charliez , that's correct, and it increases the loan account, I was slightly confused in that I took from your first post that head office expected it to reduce.
Yes, you're right; I was confused in my original post. But it looks like we got the right outcome after all. Thanks.
