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Hi
I hope you all had a good xmas and looking forward to a good new year.
As small sum of money has been given to the company as a short term loan to help cashflow as they are awaiting some large payments to come in. Should i open another loan account and cr this and dr bank account or is there another way. I am still trying to get my head round directors' loan accounts and showing how capital invested by directors should appear. So far i have been told to open loan accounts for the directors and CR with amount invested as capital and DR bank account. Can someone clarify as i dont think i am thick but Limited company accounts are new to me.
Thanks
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