Just waiting on my ROS registration to go through to get P2Cs. I’ve been advised by my accountant to use Directors Loan Accounts to balance the purchases made by the LTD co since incorporation – that were paid out by Sole Trader bank account. (Still waiting on LTD co account to be set up). Looking through the Bullet CHart of Accounts I don’t see Directors Loan accounts – do I use Funds Introduced or Owner Equity, or should I create a new account? Many thanks in advance, cannot WAIT until I get all this stuff transferred and the headache is over…
Cool. Deffo don’t ever try and setup employees manually. It’s a mare. Just import the P2C file and we setup everything for you.
If you click on Money In > Directors Loan you’ll find a workflow and we’ll automate the accounts in the back end.
Bullet is setup to do everything automatically for you. Keep away from the Chart of Accounts and tweaking. Keep it simple and you’ll never have a problem.