DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

How do you enter monies borrowed by ta shareholder


#1

How do I enter monies borrowed by one of the shareholders? What do I enter it as?


#2

When shareholders lend money to company, they are treated as any other creditor. So you should just go to Chart of Accounts, then create new liability account called Loan - Name of shareholder and then record received money transaction by going to Bank Accounts tab (if received into business bank account).

Categorize received money to this liability account.


#3

Hello

Thank you so much for your response. I followed your steps and now my books are balancing

Regards

Sophie