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JulieM09's avatar
JulieM09
Trusted Cover User
5 years ago
Solved

Closing an existing loan and opening new loan account

The company has a loan which has been refinanced with a new account number.   I need to reconcile the final account - when I state that a deposit/payment/receive money was made to the account in qu...
  • DuncanS's avatar
    DuncanS
    5 years ago

    JulieM09 

     

    I would have 2 Loan Accounts in MYOB mentioning the Account Number.

     

    A Journal would be used - debit the old loan and credit the new loan.

     

    Duncan

DuncanS's avatar
DuncanS
Ultimate Partner
5 years ago

JulieM09 

 

I would have 2 Loan Accounts in MYOB mentioning the Account Number.

 

A Journal would be used - debit the old loan and credit the new loan.

 

Duncan

  • JulieM09's avatar
    JulieM09
    Trusted Cover User
    5 years ago

    Thanks Duncan, will do!