cancel
Showing results for 
Search instead for 
Did you mean: 
lori0718
Level 1

How do I record a small loan made FROM my company TO a director of the company when the loan is made and when it's paid?

 
1 Comment 1
Rustler
Level 15

How do I record a small loan made FROM my company TO a director of the company when the loan is made and when it's paid?

create an asset account in the chart of accounts names something like, Due-from-[name]

 

to loan the money, write the check and use that due-from account as the expense (reason) for the check

 

as you get paid back, deposit the payment and use that due-from account as the source account for the deposit

Need to get in touch?

Contact us
Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up