Hi on my chart of accounts I do not have a director account code, I have loan (2300) and recently transferred money in and need to add to director loan. My previous director loans was added to loan (2300) - please let me know what is the correct one for director loans and if not what do I used on my chart of accounts or if loan -2300 suffice?
Hello @Landers
I checked the email linked to your account and you have a landlord account (which based on a sole trader chart of accounts). Sole traders do not have a director account code as they do not have directors (this is only seen in limited company accounts).
In your account you would have a Proprietor Drawings Account
The type of company can only be set when setting up the account. If you are a limited company you would need to delete your account and sign up again as a limited company.