Sage Accounting UKI

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Loan to another company

Posted By EmmaH74 over 2 years ago

Hi, my Director has opened another company and transferred a small payment from our current company bank into the new company's bank account. It will be paid back as it was used to open the bank account but how do I process this payment on Sage?

Thanks

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0 Malcolm Purvis over 2 years ago

Hi Emma,

Thanks for using Sage City.

Apologies for the delay in response to your question.

To record a company loan you can use this article: https://help.accounting.sage.com/en-gb/accounting/adjustments/extra-company-loan.html?Highlight=recording%20a%20loan

When creating the nominal code you could call it ‘Company Loan from xxx’ to help identify where the money has come from.

Regards,

Malcolm

Sage UKI
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0 Malcolm Purvis over 2 years ago

Hi Emma,

Thanks for using Sage City.

Apologies for the delay in response to your question.

To record a company loan you can use this article: https://help.accounting.sage.com/en-gb/accounting/adjustments/extra-company-loan.html?Highlight=recording%20a%20loan

When creating the nominal code you could call it ‘Company Loan from xxx’ to help identify where the money has come from.

Regards,

Malcolm

Sage UKI
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