Lending and MYOB

[Nominees]

This one is for the accountants.

I am lending some money to "someone" and would like to make a record of it in MYOB.

I am not sure how to categorise money I lend to someone. Should I file it as an "Asset" or "Equity"?

Neither of them look good to me. (it isn't a liability becase "I" am lending NOT borrowing.)

I know this is simple... for an accountant !

Thanks,

Nom

 

[DaleGG]

Hi Nom

In MYOB that would be treated as an asset and I would call it an unsecured loan.

Dale

Originally posted by Nominees
This one is for the accountants.

I am lending some money to "someone" and would like to make a record of it in MYOB.

I am not sure how to categorise money I lend to someone. Should I file it as an "Asset" or "Equity"?

Neither of them look good to me. (it isn't a liability becase "I" am lending NOT borrowing.)

I know this is simple... for an accountant !

Thanks,

Nom

 

[Nominees]

Thanks Dale.

Nom