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Thread: How to capture Member loans from the previous year, after year end has been done?

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    How to capture Member loans from the previous year, after year end has been done?

    Hallo...

    One of our shareholders have a company cellphone, and his cellphone bills should be posted to his loan account.
    We only get one MTN bill for the company cellphones which I post to the Telephone/Fax in the Cashbook.
    How do I post his bill to the members loan account without haveing outstanding balances? Do I need to do a journal?

    I will appreciate any help and advice.

    Thank you,

    Vinruby.

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    Silver Member geraldenek's Avatar
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    you will have to do a prior year journal taking the amounts out - which accounting package are you using?
    Geraldene Kapp
    Professional Tax Help
    www.mytaxhelp.co.za

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    Hi Geraldine I am useing Pastel Xpress V11.

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    Diamond Member Neville Bailey's Avatar
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    What a coincidence that you asked this question! I've just sent out a newsletter about prior year processing in Pastel - click here to read it.
    Neville Bailey - Sage Pastel Accounting Consultant
    www.accountingsoftwaresupport.co.za
    neville@accountingsoftwaresupport.co.za
    IronTree Online Solutions

    "Give every person more in use value than you take from them in cash value."
    WALLACE WATTLES (1860-1911)

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