The Director has forgiven loan to the company and we would like to remove the liability on the accounts records - how is this done?
@Crocky @Earl_HD
Talk to your Tax Accountant.
Forgiving of Loans can have serious Tax consequences.
Duncan
Hi @Crocky,Great question. If the account has no transactions, you can delete it; otherwise, make it inactive. Please see this help page for detailed guidance. Adding, editing and deleting categories
Regards,Earl
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