Director Loan Account in Company House Accounts

Very Quick Questions

 

1. If in a companies accounts the DLA is a debit balance (Director Owes Money to the company). How should this be classified - As a current Asset?

2. If in a companies accounts the DLA is a credit balance (Company Owes Money to the Director). How should this be classified - As a current Liability or Long Term Liability?

 

Thanks for your help

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You answered your own question :)

Ben Smith |

and...

neileg |