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GourmetGG
Level 1

Directors Loan Repayment

Hello. I have set up a directors loan in quickbooks for the money I used to start my limited company. I have created the loan account in Chart of accounts but I am unsure how to log the repayments. I am repaying myself when I have funds available. I transfer the money back to my personal account. I have logged the repayments on the transaction page as an as a VAT free expense. Is this wrong, can anyone advise how the repayments should be logged? Thanks in advance.

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