Hi there
I'm busy setting up old accounts for purposes of getting the accounts up to date.
I need to load all sales that was paid into one of the directors personal Bank accounts as it's a small business via journal into loan account of the director.
The same applies for al the expenses.
Apposed to posting every entry I've summarized all entries for the year already.
Please help me understand what will be a debit ad what will be a credit in this situation
I'm busy setting up old accounts for purposes of getting the accounts up to date.
I need to load all sales that was paid into one of the directors personal Bank accounts as it's a small business via journal into loan account of the director.
The same applies for al the expenses.
Apposed to posting every entry I've summarized all entries for the year already.
Please help me understand what will be a debit ad what will be a credit in this situation