how do you deal with a business loan from the owner(s)?

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  • BusFact
    Gold Member

    • Jun 2010
    • 843

    #16
    You do this when doing the journals for the wage slip, eg:

    D wages, C bank account - Nett wages actually paid to employee
    D wages, C UIF account - UIF deduction
    D wages, C PAYE account - PAYE deduction
    D wages, C staff loan account - Loan repayment amount each week.

    Thats assuming you're not using any control accounts. Does that work for you?

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    • Megan06
      Email problem
      • Mar 2011
      • 7

      #17
      Thanks for the quick reply. That is great!..... *blush*... it was actually as easy as that.... will try to ask more challenging questions next time

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