Personal Loan + Ledger entry?

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JuniorWilks
JuniorWilks Registered Posts: 2 New contributor 🐸
in General discussion
Personal Loan + Ledger entry?

Hello.
I am just strating the books of a small new business and having problems dealing with a couple of ledger transactions. Firstly, the business was bought for £28,000. £12,000 of this was a personal loan into the owners personal account and the other £16,000 was cash. As the loan is an ongoing liability used to finance buying the business, but not put through the business account any ideas how I would deal with it?
Many thanks.
:confused1:

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  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    As this is a personal loan and not a business loan i think this is a seprate enterty to the business and should be treated as such.

    Please correct me someone if am wrong :thumbup1:

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