subcontractor loan
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
Forum Discussion
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
