View Single Post
  #3 (Link to this post)  
Old 03-06-11
SmallBusinessWorks SmallBusinessWorks is offline
Forum regular
 
Join Date: Jun 2010
Posts: 310
Thanks: 0
Thanked 18 Times in 16 Posts
Default Re: Director loaning funds to Company

Yes this is no problems, just create a directors loan account, i often suggest the easiest way to enter in QBs is to create a "Directors Loan" Bank Account so you can enter the transactions directly from this account.

At the end of the year explain to your Accountant they should not have a problem as the key thing for them is being able to identify where these funds came from.
__________________
Alan Maddick - Accountant & Financial Adviser
Small Business Accountants
Self Managed Super
Reply With Quote