Invoicing for a Loan

stadiummanager1

I have been asked to create invoices for multiple loans that are being made to the business by the Directors. I have created Liability accounts for each one but when creating the 'item' for invoicing purposes I am not able to see any Liability accounts for the 'allocated to' field in the item setup. What is the best way to create these invoices? 

Tracey_H

Hi @stadiummanager1 

 

Thanks for your post. Generally speaking if you are just needing to record the amount of the loan allocated to the director loan account you could use the Service Layout in Enter Sales, this way you wouldn't need to use items. To change the layout, open Enter Sales, click on Layout and select Service.

 

If you are not sure about how to record these loans I do recommend checking with the accountant to ensure they are reported correctly.

 

Please let me know if you need further help.

 

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