Sage Line 50 - Journal Question
I you have a nominal account for loans (2300’s) which had a starting balance but there wasn’t a bank account for it.
I have been posting the interest to the loan account each month (CR 2300’s) and overhead (DR 7000’s).
A supplier gave a refund and it was paid into the loan account, it cleared the balance of the loan and the remainder was transferred to the current account. I posted the refund (transfer) to the direct expense nominal (6000’s).
I now need to journal and balance the loan account. It currently sits at CR 674.50 and the overhead interest nominal shows as DR £43.80.
I hope this all makes sense!
Anyway, what journals should I post to bring the loan account to £0.00
- Trade creditor journal 13 1
- Working out private usage for a Taxi Driver? 378 9
- How much of your work is admin? 636 6
- HMRC Distraint 74 1
- TaxCalc Accounts production 132 2
- Fines for filing 12 months of FPS on one submission 215 3
- Running two businesses from the same premises 413 5
- HMRC BACK AND FORTH FIGHT ON BTL PROPERTY ALLOWANCES 111 2
- Invest in ''buy to let'' property 1,367 42
- Nominal Ledger 392 11
- Gave wrong info to client about tax due 591 20
- Base value unavailable re. Capital Gain 191 2
- Old CGT loss 217 3
- Gov.UK = NOT OK! 204 3
- Paper tax return 167 4
- Start up allowance? 389 12
- Will I need to resign? 235 1
- Penalty for late PAYE registration? 255 3
- AIA or IFA 460 7
- Surely not? 472 10