DLA account question

How-to
1

I have set up a DLA to show the money I lent the company to pay the deposit and purchase costs of buying a property.

This purchase was made in 2018 prior to me using Quickfile (April 2024) and I want to show the money bieng lent and then spent. I assume this has to be as some sort of ‘opening balance’?

I have set up the DLA with an opening balance. I have tagged repayments from the current account when repaying some of this loan monthly. Where I am stuck is how to record the spending of the DL?

I have set up the leasehold property with the valuation of £130,000 and this is showing in my fixed assets. The DL seems to also be shown in my fixed assets and I don’t think it should be as although I still owe the money back it has been spent by the business and is no longer an asset?

Any guidance on how to show the DL being spent against would be great.

Thanks in advance

2

If you had imported full TB when you started using QF, it should have DL opening balance sitting under current liabilities. To record expenses from DLA, just use it as another bank account, i.e go to DLA to record expenses or if you are paying invoices use source as DLA