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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?

 
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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

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