Forum Discussion

hkjohn's avatar
hkjohn
Experienced Cover User
5 years ago
Solved

Loans

Hi. I am a long time MYOB user, but first time Poster! Hope someone may be able to assist me. I have loaned an amount of money to one of my Customers. (Transferred the money from my main bank accoun...
  • DuncanS's avatar
    DuncanS
    5 years ago

    hkjohn Kimberley 

     

    Further to Kimberley's comment, the account would be a Current Liability as you say the loan would be repaid within 12 months.

     

    You may like to add more more information to the loan account eg $400/m and/or to October 2020.

     

    Duncan 

hkjohn's avatar
hkjohn
Experienced Cover User

Thanks so much Kimberley - Thats perfect. 

DuncanS's avatar
DuncanS
Ultimate Partner
5 years ago

hkjohn Kimberley 

 

Further to Kimberley's comment, the account would be a Current Liability as you say the loan would be repaid within 12 months.

 

You may like to add more more information to the loan account eg $400/m and/or to October 2020.

 

Duncan 

  • hkjohn's avatar
    hkjohn
    Experienced Cover User
    5 years ago

    Thanks Duncan - will do