Setup loan account to purchase business
Hi, I'm setting up MYOB for a friend who is loaning $9000 from her parents to purchase a business. 10% has already been paid directly to the vendor from her personal account (not come through her tra...
Forum Discussion
Hi francamm,
Thanks for your post. Please allow me to extend to you a very warm welcome to the Community Forum.
In this situation, we recommend you speak to your accountant for personalized advice based on your friend's specific financial situation. It's important to confirm with your accountant the most appropriate way to record those transactions and ensure accurate reporting.
Feel free to come back to the Community Forum if you have any more questions, we are more than happy to assist.
Cheers,
Leneth