A director makes several transactions, transferring money from their personal account to the company account (director’s loan to the new company). The money then used to pay invoices.
How should I log these director’s loan transfers on quickfile?
If the money has been transferred from the DLA (Directors Loan Account) to your current account, you would have a few transactions. These can be entered like so:
Enter a money in transaction in the current account
Tag it as a transfer between accounts
Select Director’s Loan Account
Enter the money out transaction to pay the invoice, and tag this to the invoice as normal
Then, when the money is paid back to the director, you would simply have 1 transaction from the current account to the DLA, again tagged as a transfer.