How do I issue loans to an external party?
Alexiers
Member Posts: 3
Hi Wave Community,
I would like to issue a $1500 loan to an expternal party from my sole proprietorship business at 3% annual interest. How do I record the loan and the interest accrued?
0
Comments
Hi @Alexiers!
A few weeks ago, I was talking to another business owner about how to handle accounting for loans. Check out this thread right here. It might be exactly what you're looking for. Let me know if you have any questions!
@Alexia this is exactly what i wanted. Thank you!