Hello, I just have taken £50,000 bank loan from my bank .I would like to know how to record manually the transaction and how to report the bank interest/loan repayment every month. I am second year student and still feel quite confused about reporting the business loan. Thank you,indeed!

Hi, This post should give you some advice: [image] Accounting for loans How-to I am new to accounting, I have a loan and payments and interest to enter each month, how do I do this?

The way you account for the loan will also depend on your business structure and the reporting format you use, e.g are you a limited company or sole trader? If a limited company, do you file micro-company accounts under FRS105 or do you use FRS102? The requirements for reporting loans differ between…

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How to report a business loan?

Accounting

rhc 13 February 2022 17:07 2

Hi,
This post should give you some advice: