Loan
Hi,
Our business lent another business a loan of money.
How do i enter this in MYOB and enter the repayments of that loan?
Thanks
Forum Discussion
Paul,
The Loan made would be a Asset in the Balance Sheet eg Loan to XYZ Company
If the Loan is to be repaid by the Borrower within 12 months, record as a Current Asset.
You may include the repayment amount and number of months in the Account Name.
It may be that you print out the Loan Account for the Borrower on a regular basis.
Duncan
