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Thread: Pastel Xpress Version 12

  1. #1
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    Pastel Xpress Version 12

    Hi There,
    Please can someone asssit...


    I would like to update a staff loan payment via a Journal entry. My employees loan account is captured as 5410/002. When I complete a journal entry it will look like this:
    Period Date Account Description Credit Contra Account
    1 22/03 5410/002 Staff Loan payment R100.00 ?????

    any help would be much appreciated.

  2. #2
    Platinum Member Neville Bailey's Avatar
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    The journal for the repayment of the staff loan will be to credit 5410/002 and to debit the Salaries expense account (contra account), as you will have only debited the net salary, after deducting the loan repayment, when you paid the staff member.
    Neville Bailey - Pastel Accounting Consultant and Photographer
    neville@accountingsoftwaresupport.co.za
    www.accountingsoftwaresupport.co.za
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