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Thread: Loan from Director and Tax

  1. #1
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    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?

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    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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