We have what we call a ‘Directors Loan’ facility. What this means is that the Director of a company may put their own cash in the company, and it become a Liability which can be repaid to the Director.
I have been able to create a Directors Loan account under a Liability. Easy!
What I’m struggling with is how to enter £5,000 and then transfer that £5,000 to the bank account as a cash amount.
I’ve tried to do is via an Inter Transfer, with no luck - as it shows bank accounts only.
Have also tried to do a Journal Entry, but no luck as it doesn’t show bank accounts.