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How to deal with loan in Sage 50?

  • 23-01-2009 5:16pm
    #1
    ACCA
    Closed Accounts Posts: 5 ✭


    Hi there,
    My boss gave a loan of 2000 euros to one of his employee. The employee is going to pay him back bit by bit every month (200/month).

    How do ye deal with that in Sage 50?
    Opinions are much appriciated

    Thanks


Comments

  • #2
    Cordner
    Closed Accounts Posts: 33 ✭Cordner


    Hi- you need to open an employee loan a/c- a current asset.
    Post the loan to this- ie dr loan a/c cr cash/bank etc
    As the employee pays back, cr loan a/c, dr cash/cheque
    If they pay back thru wages, your posting would be dr wages cost, cr chq/bank (wages paid), cr loan a/c (loan pd back)

    Hope this helps


  • #3
    ACCA
    Closed Accounts Posts: 5 ✭ACCA


    Thanks for your message Cordner, that was exactly what I did with the loans but I was not sure. Thanks again for your help


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