Q: How To Handle Existing Bank Loan In Bullets Accounting Online Software?
For companies moving to Bullet that have an existing loan facility ore dating by a couple of years moving onto Bullet. What’s the best way to handle this.
a) Record the loan as capital introduced to the company. => This would mean would also have to do a manual journal entry to adjust.
b) is there some other way of handling the balance and loan repayments. Was thinking maybe a loan bank account similar to what you suggest for Petty cash in another post.