hi my son sub contracts to me and i recently gave him a loan to purchase tools to get him going . how can i record that as a loan on myob and then show a payment against the loan until it is payed off. FYI it was 2K payment
Hey @dteasdale140370,
Let's dive deeper on how you can record the repayment of the loan. The first thing you need to do is create a liability category to represent the loan. When you receive the loan, you'll need to record a receive money transaction. Loan repayments can be recorded using spend money transactions. More information regarding loan repayment can be found through this link.
Best regards,
Doreen
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