Ask, reply and learn. Join the community of Akaunting.
I'm trying to determine the correct way to enter a loan in Akaunting. I have the Double Entry app and have added a new entry with a credit to a liability account and a debit to the bank account that the funds were deposited in. When this is done it creates a new Transaction and labels this transaction as income, which it is not. What is the correct way to make this entry and have it not show as "Income", since it's going to be used for working capital and not indicative of sales.
It does not appear there is a way to properly account for a loan. It shows up as Income. I've noticed several things show up in the incorrect category. Such as credit card payments. They are NOT an expense. yet that appears to be the only way to enter a payment. The issues you encounter when Non-Accountants write programs.....
Showing 1 to 2 of 2 discussions