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Thread: Loan from Director and Tax

  1. #1
    Join Date
    Dec 2018
    Thanked 0 Times in 0 Posts

    Question Loan from Director and Tax

    Good day, please can you assist...

    I've posted a loan by one of the Company's Directors as a zero rated income (Bank-Receipts) on Pastel Express, whereas it should have been posted as a liability as it is a loan. This loan is showing as output tax. How do I correct this?

  2. #2
    Silver Member
    Join Date
    Sep 2012
    Louis Trichardt
    Thanked 43 Times in 39 Posts
    Hi, is this an opening balance, or did it originate from a bank transaction?

    Can you please elaborat? Did you go to the cashbook on the receipt side and choose an account which is not in the correct category?

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