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    zandee's Avatar
    zandee Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 31, 2007, 12:39 PM
    Company Loans to staff
    If a company loans money to it's employees what is the correct entry on the company books?

    Thanks
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Jul 31, 2007, 04:46 PM
    Dr. AR/Loan Outstanding, whatever
    Cr. Cash
    bhet's Avatar
    bhet Posts: 77, Reputation: 9
    Junior Member
    		  
    #3

    Jul 31, 2007, 07:25 PM
    Dr. Vales
    Cr. Cash
    conroypi's Avatar
    conroypi Posts: 11, Reputation: 1
    New Member
    		  
    #4

    Aug 1, 2007, 11:37 PM
    Quote Originally Posted by CaptainForest
    Dr. AR/Loan Outstanding, whatever
    Cr. Cash

    Captain Forest is correct. To make it easier to separate between employee loans and customer/client receivables, I usually set up a current asset account called EE loan. It functions like an accounts receivable account.

    Dr EE Loan
    Cr Cash

    Hope this helps.

    Adina
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