Skip to main content

Get 50% OFF QuickBooks for 3 months*

Buy now
Switch to QuickBooks and 70% off for 3 Months
Talk to Sales: 877-683-3280
Hours
Mon - Fri, 5am - 6pm PST
Sat - Sun, 7am - 4pm PST
Product support & help
Need help signing in?
1
1371579160
February 7, 2020
Question

Applying interest to directors loan account

  • February 7, 2020
  • 1 reply
  • 1 view

Director has lent money to the company.  Interest is charged at 8% accrued on a daily basis and compounded.

Is there a way that QB can be set up to automatically calculate the interest charge on the directors loan account?

1 reply

A
Ashleigh1
Level 14
February 7, 2020

Hello 1371579160, 

 

Thanks for reaching out to us on the Community page, 

 

In Quickbooks there is no way of it automatically calculating the interest charge for the directors loan account. You can do a recurring transaction for this however only if it is the same amount of money going out each time for example 100 pounds but you can not do it by the percentage has to to be an actual figure. 

Need QuickBooks guidance?
Log in to access expert advice and community support instantly.
Terms & ConditionsAccessibility statement