Loan from directors to pay customers invoices
Hi, sorry i need someone to help me through my brain fade.
In bank feeds I have deposit of $10,000 from one of the directors, I want that to show as a directors loan in the liabilities. (easy)...
Forum Discussion
Hi Liz, thanks for responding. Yes, correct, however in this case I want to pay off a sales invoice. money that is owed to the business.
Hi Richard
If I understand you correctly, then you can still use the director's account as the "deposit to" account as the original loan entry would be a credit to the director's account and the payment of the sales invoice would be a debit to the director's account.
Cheers
Liz
