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Dustys's avatar
Dustys
User
11 months ago

Recording a loan not paid directly to supplier used for previously purchased equipment

Hi Company bought some equipment and paid for it with company money in June and July.  Then got a loan in August to cover these costs.  I know how to create a bank loan account and a journal entry f...
  • Princess_R's avatar
    11 months ago

    Hi Dustys,

     

    Thank you for your post. I'd like to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource.

     

    Regarding your concern about how to enter and what account you should use, I highly recommend speaking to your financial advisor or your accountant. Please read through this Help Article on Loans and Repayments, which has detailed information to guide you with this.

     

    I hope this helps, and please let us know how you go, as we are happy to help further.

     

    Cheers,

    Princess