How to deal with loan in Sage 50?

ACCA · 2009-01-23 17:16:49

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

23-01-2009 06:16PM

#1

ACCA

Closed Accounts Posts: 5 ✭

Join Date: January 2009

Posts: 3

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

0

Comments

#2 26-01-2009 12:10PM

Cordner

Closed Accounts Posts: 33 ✭

Join Date: January 2009

Posts: 22

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

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#3 29-01-2009 11:01PM

ACCA

Closed Accounts Posts: 5 ✭

Join Date: January 2009

Posts: 3

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

0