Petty cash purchases outstanding / contra

[Lindsay S]

Hi,

Can anybody please advise me how to move the petty cash purchases entered through a sundry supplier account to a loan account? These purchases have not been reimbursed so no cash book entry to contra ....

Thanks for any advice.

Lindsay

[Marq]

Supplier Borrows cash from PC box
Entry should have been

Dr - Sundry creditors
Cr - Petty Cash

Assume supplier is in your creditors accounts
So make a separate loan account in Debtors to raise as a loan or do nothing and set off against creditor account if you owe him still.

Dr - Suppliers name - Loan account
Cr - Sundry Creditors

[Lindsay S]

Thank you Marq - appreciate you replying