Forum Discussion

JulieM09's avatar
JulieM09
Trusted Cover User
6 years ago

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
    6 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

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
6 years ago

Thanks Duncan, will do!

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.