DLA opening balance

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1

Hi, I am struggling to get my Director Loan Account correct.
When I started using quickfile in 2019, i had a balance from my previous accounts say £1000 under DR of the 2018 accounts with the notes “Balance carried forward”.
So if i understand correctly, this means, i have this £1000 company owes to me?

Then at the opening balance settings in QF for year 2019, i put a negative figure “-£1000”, not sure if this is correct, or do i need to put a positive +1000 instead?
also in QF, it says money in and out, so is money in = debit , and money out= credit?

Please help, thanks
Marvin

2

If the £1,000 is in the DR column of your accounts, then this is a debtor in the company accounts, i.e. you owe them the money not the other way round.

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