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Level 1

do i add personal loan to friend?

I'm recently self employed and still getting the hang of things. At the beginning ends of april (from my personal account) I paid for some bits for a friend in America, I'm shipping them too her soon, she's just send me a chunk of money to do that and to pay me back for the putchases. Do i need to add that to quickbooks? I'm a sole trader and I'm just trying to work out weather I need to log EVERYTHING. I don't want to ignore her putting money into my personal account If I needs adding but It was entirely in business related so do I need to worry? Is it exclusively just business bits that go on there? Also I had a personal loan from my parents recently. Unrelated to business stuff which has side been paid back. Do i have to log that? Sorry for all the questions, I just want to be sure I'm doing everything I should be! Thankyou very much 

QuickBooks Team

do i add personal loan to friend?

Hello PeculiarLocks,


Welcome to the Community - thank you for your question!


We would advise to speak to either an accountant or HMRC both these transactions - we are not accountant trained, and so would not want to give you any incorrect advice.





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