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wind-emily
Level 1

Directors Loan

I have recently set up my company so there are a fair few initial costs which I have paid for myself. 

 

I understand that I need to create a Director Loan to be able to reimburse myself for these costs. Do I list each expense e.g. insurance as an expense under transactions first then create the journal entry? or just create a journal entry of the expenses and list them there. If I do the later how do I add on receipts?

1 REPLY 1
GeorgiaC
QuickBooks Team

Directors Loan

Hi wind-emily, thanks for joining the Community. The simplest way to do this would be to create the directors loan account and enter the total opening balance; if you'd prefer, you can enter this over multiple lines on the JE to detail each expense in the description field. You can then add multiple receipts as attachments on the JE by dragging/dropping the files or clicking the icon. If you need any help inputting this, we'd recommend reaching out to your bookkeeper or accountant for support. 

 

 

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