BUSINESS LOAN RECONCILIATION

[KPERRY847]

Hi,

I am new to MYOB Account Right Plus.

I have a business loan of $86,000 and have been making payments from a personal account to the business loan.

When I got into Banking > Receive money > and select the account to receipt where the funds were received, I am unable to select the loan account. I am also unable to record the bank interest and charges that relate to it when i go to Banking > Reconcile Accounts > Enter bank statement date > Bank Entry (the BANK ENTRY function is not available to be selcted).

Is anyone out there able to help me??

Thank you sssooooooooooooooooo much

Katie

[Marilyn · Accepted solution]

Good morning,

I think I understand what your question was - you wish to enter income & expenses to a loan account and be able to reconcile it.

To be able to do this you will have to ensure that your loan account number (and if starting with 2-xxxx) liability is and changed the Account Type from Other Liability to Credit Card.  By doing this you will be able to use this via Banking - Spend & Receive Money.

Hope this helps - Have a great Easter

Cheers

[Emile]

Hi @KPERRY847 

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

I trust Marylin's advice has helped you out. If it has solved your problem feel free to mark it as the solution by clicking the 'Accept as Solution' button in the bottom right of Marylin's post.

Feel free to post again if you have more questions.

[KPERRY847]

Thank you heaps Marilyn, this worked, thank you for all your help, greatly appreciated. Hope you have a great Easter too.

Regards

Katie