[GNC] Directors loan - do I need an expense account?

[Adrien Monteleone]

Yes "money out of the company into my personal bank account" can be at 
least four things I can think of right off:

1. Expense (spread out payments or not)
2. Repayment of Liability
3. Dividend
4. Draw

But I think the further details about the selling of equipment at least 
shows that this isn't (likely) anything but a simple expense for the 
company.

Regards,
Adrien

On 12/10/21 1:39 AM, Liz Dodd wrote:
> On Thu, 9 Dec 2021 19:38:16 -0800
> Stan Brown <the_stan_brown at fastmail.fm> wrote:
> 
>> "money out of the company into my personal bank account" -- that seems
>> pretty clear to me that the company is lending the director money, not
>> the other way round.
> 
> not if it is a repayment
> 
> So we are not completely clear about the circumstances.
> 
> LIz