Splitting Directors Loan into payment types e.g. cash, card, bank transfer etc

I’m no accoutant…please bear with me.

I make personal payments from the business using (sometimes) cash, sometimes card and sometimes a bank transfer. If i post these amounts via the Director loan account - can’t figure out a way of reconciling my cash at the end of the month i.e there is no history of the payment type - as there would be had the amounts been posted as an expense…ish I know what I mean :slight_smile:

From the companies perspective, in pure accounting terms it’s one liability irrespective of the payment method. So knowing how each item was paid for isn’t that relevant and you can just reimburse yourself via a single bank transfer, cash withdrawal or cheque.

Having said that the Directors Loan account is just another type of bank account in QuickFile so you could create an additional loan type bank account for cash and card if you wish, that will allow you to breakdown those totals. Although it’s not essential to do this.


That’s a big help thanks.

I guess I’m coming from the fact that at the end of the year my accountant tallies “cash in” against “cash out” to see if there’s discrepancy.

Thank you.