hannah
07-03-2007, 04:03 PM
My boss he loaned to the company in $xxx.00 and we recorded this in the system as long term liabilties.
In a month he wrotes 1 or 2 checks to him self and several ATM withdrawls then at the end of the month I collected all the pay tubs or receipts from him and entered them to a loan repayment account.
At recently, my CPA has advised me that I should treat some of the repay to interest payments because over 10k in a year. If so, how can do this in the system? Please advise.
Thanks,
Hannah
In a month he wrotes 1 or 2 checks to him self and several ATM withdrawls then at the end of the month I collected all the pay tubs or receipts from him and entered them to a loan repayment account.
At recently, my CPA has advised me that I should treat some of the repay to interest payments because over 10k in a year. If so, how can do this in the system? Please advise.
Thanks,
Hannah