So I have an opening balance for my directors Loan Account (£12k), Over the past year I have drawn down different amounts from this account as the business could afford to repay me i.e. £200 per month. What I am struggling with is as follows…
Within the directors loan account, I can create a ‘money out’ event using the ‘Input New Transaction Field’, which I can then Tag which reduces the directors loan account however it doesn’t account for the outgoing money from my working current account.
Similarly, If I create a new transaction in the working current account (Money Out) then tag it as a directors loan repayment it adds the transaction to the balance of the directors loan account rather than subtract it.
To summarise, I want to account for repayment of the directors loan both in the working current account (Money Out) & also in the directors loan account (Reducing overall Loan Balance). Please can you help? Many Thanks