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The Book-keepers Forum -> General Book-keeping & Accounting -> loan
Post Info TOPIC: loan
Rochie


Member

Status: Offline
Posts: 23
Date: Wed Feb 22 11:34 2012
loan
 

As you can probably gather from all the questions that are probably obvious...I am new to Book-keeping! Our company has lent a supplier unofficially a sum of monies. What would the posting be? Cheers in advance



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Wella


Expert

Status: Offline
Posts: 1863
Date: Wed Feb 22 11:57 2012
 

I would be inclined to create a separate loan account for the supplier, rather than involve their normal supplier account.

If the money was paid out of a bank account DR [new] Supplier Loan a/c and CR Bank a/c.

HTH

Bill



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Rochie


Member

Status: Offline
Posts: 23
Date: Wed Feb 22 12:09 2012
 

so what nominal code do i use

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Rhianrach


Guru

Status: Offline
Posts: 919
Date: Wed Feb 22 16:10 2012
 

Rochie wrote:

so what nominal code do i use

 Whatever your bank/cash accounts are. In sage it would be 12**, if it was me doing it. smile



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Steve
Donna CBK


Senior Member

Status: Offline
Posts: 293
Date: Wed Feb 22 17:39 2012
 

in nominal - loans are 23xx

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Donna - Complete Book-Keeping Ltd

Sage 50 One Day Workshop with follow up online Training - Opening May 2012 -

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Rochie


Member

Status: Offline
Posts: 23
Date: Wed Mar 21 12:33 2012
 

Thanks guys. I realised after that the previous person had renamed the loan account and I thought i was going crazy

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