Accounting for Loan made to a thrid party

[ScrumpyJack]

I am trying to account for a Loan granted by my company to another company.
I have no shares or employment in that other company.
The loan is interest free.
How do I account for that in Quickfile?

[ian_roberts]

Sounds to me like you’d just need to create a new “loan” type bank account and mark the money you paid to the other company as a transfer from your current account to the loan account, and any repayments they make as a transfer the other way. But you may want to check with your accountant (I’m not one) in case there are any other implications for tax that I’m not aware of.

[Paul_Courtier]

If it were me I’d create a new balance sheet nominal and just tag the loan to that, that way it sits on the balance sheet as a debtor/creditor as opposed to a bank balance asset /liability.