On Fri, 10 Dec 2021 at 15:18, Gyle McCollam <gmccol...@live.com> wrote:
> This is a lot different than your first explanation. Under these > circumstances where you sold the company electronic equipment, it is indeed > just an expense. On the company's books, it is the same as if the company > had bought the equipment from any other vendor and would in no way be a > "director's loan". Treat it like any other expense on the company's books. > Yes, I agree, it's different from my first explanation. My accountant has confused me, by saying it's a directors loan. After setting the company up, and getting him as an accountant, he sent me a blank Excel spreadsheet with "directors loan" as one of the tabs. Last year he said I had mis-calculated the directors loan as it did not agree with the bank statements. So I asked him in a recent email to clarify the exact outstanding amount, which he did. *"3) Directors loan at the end of the financial year - £1,995.31 (see attached movement schedule)"* (I've not attached anything, but that is a simple copy/paste from his email) Sorry for the confusion, but it was my accountant that confused me.😢😢😢 I believe the main thing is that the date submitted to HMRC is correct, which it is. The outstanding amount is being sent to HMRC as an expense. I think he just confused me by using this term "directors loan" when technically it's not the right term. Dave _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.