making sure the DL account which owes money to the Dir is show properly, ii seems to be reducing the amount as payment are made into the company, is the set up wrong?

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1

I’m making sure the DL account that owes money to the Dir shows properly. It seems to be reducing the amount as payments are made into the company. Is the set-up wrong?

2

It’s not entirely clear what you’re describing here, but if the company owes money to the director then the DL account should show as “overdrawn” (i.e. a negative balance in the bank account view, a credit value on the balance sheet).

If the director lends a lump sum to the company as a deposit into the company account, you would tag that as a transfer from the director’s loan account, which would leave it overdrawn if it started at zero. When the company pays the director back that is a transfer from the company current account to the director’s loan, reducing that overdrawn balance.

It’s the same if it’s an implicit loan from a director using their personal funds to buy something for the company - the payment for that purchase would come out of the DL account, recording the fact that the company now owes that amount to the director.

3

Ian, fully understand the background of what should be shown, as a newcomer to the system it doesn’t show in the way I imagined or payment in and out of the bank form and to the DL

Which is the best way to check/get a 2nd opinion?

Kind regards

Pau Gosling

4

Ian, are there tutorials to follow that are useful? If so, where do I find them?

Thanks

Paul

5

Ian, is it best to put another post up ion ‘QuickFile’ to get traction on this request?

Kind regards

Paul Gosling