I’m trying to figure out how I should book a loan to another company in Quickfile. I assume I create a loan account, but how do I correctly tag a payment which is made from the current account to a third party which is actually a loan to the other company?
I can tag the payment in the current account, it’s just a normal payment for a purchase, but I can’t see how I then create the entry in the loan account.
I think I’m correct in saying that the loan will appear as an asset in my balance sheet, so the loan appears as a credit in the loan account, but I can’t figure out how I can tag this credit.
Any help gratefully appreciated!