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Processing purchases as Shareholder's loans

edited Nov 22, 2010 9:44AM in Accounting / ERP 6 comments

Just wondering what the best way to process an employee (owner) purchase is that will go into a Shareholder loan (liability) rather than be paid back immediately?  We have several shareholders too.

The first thing that comes to mind is an expense report but I'm wonding what accounts I'd need to set up for the payment of the expense. When I go to Make Payment now I see just my 1000 series accounts - our bank, and petty cash.

So rather than have the amount show as being taken out of the bank by the payment I would need it to create a liability in the shareholder loan for the owner who paid for it.

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