Member Loan Account and Deferred Salary

[Swapo]

I am a member of a family CC - as of last year (return not in yet as we have an extension). I was employed by the same CC for a number of years prior to being invited as a member. My 10% cost me R 0.00 and was a result of being such a valued member/son/brother - the person who does all the crappy jobs no one else wants to do. Part of those thankless tasks is to do the books for the CC prior to shipment to our accountant who provides us with audited financial statements. Currently this is all done as a single entry system in MS Excel but I want to move them to GNUCash or TurboCash (Busy Learning Double Entry Accounting Practice - WHEW). But that is a discussion for another thread. My problem at the moment is that I/the other members have rather large loan accounts where the business owes us money for paying outstanding taxes, business expenses, forgoing salaries, etc. over a number of years. This is NOT reflected in the books, but is reflected on a spreadsheet outside of the books. Only one member has a loan account that is reflected in the books and thence on the audited statements.

My question is:
"How do I LEGALLY go about adding the loan account to the books?"
Without:
A: Incuring a massive "PROFIT" for the CC.
B: Falling foul of our friendly SARS Auditors.
C: Incuring PAYE penalties and payments for the members on salaries they should have got but were not paid.

HELP ! ? ! ? ! ? !


I have read the "how do you deal with a business loan from the owner(s)?" thread
(http://www.theforumsa.co.za/forums/s...ead.php?t=3101)
and am still as clear as MUD... All advice will be appreciated.