Hello,
I need a help for recording loan €9000 (for example)from private person to company in my books. That guy has taken loan himself from the bank and repayment would be €250 and interest €70 (that's what he pays). I would record loan to loan account and interest to bank charges and interest. Would it be correct? Thanks for any advice.
I need a help for recording loan €9000 (for example)from private person to company in my books. That guy has taken loan himself from the bank and repayment would be €250 and interest €70 (that's what he pays). I would record loan to loan account and interest to bank charges and interest. Would it be correct? Thanks for any advice.