• tom
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  • From: USA, FL, Tampa
  • Registered: 03/24/2009
  • Posts: 360

Topic: General Ledger question or maybe COA

In my past usage of FA I have been the only shareholder and from time to time used "Loans From Shareholders" account

Now my son's have joined me and we now have 3 possible shareholders to get loans from (interest free)

To keep things straight I wanted to create a bank account for each of us to track the total liability

Do I make 3 new GL accounts under 2680 and assign those GL to each bank account used for this?
(I tend to think not - with the quick entries for "Loan from shareholder" and "loan repayment"

Or do I create 3 Bank Accounts as a "Credit Account" but what GL account?
And then use the Load/Repay to deposit and withdraw from the Credit Account

Tom

tom's Website

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,278

Re: General Ledger question or maybe COA

Just 3 current accounts of shareholders.

apmuthu's Website

3 Reply by tom (edited by tom 08/18/2024 07:19:30 pm)

  • tom
  • Senior Member
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  • From: USA, FL, Tampa
  • Registered: 03/24/2009
  • Posts: 360

Re: General Ledger question or maybe COA

apmuthu wrote:

Just 3 current accounts of shareholders.

Sorry I am a bit thick...

3 GL accounts? like 2681-2683 and then the current balance would be available from a GL Inquiry?
--
update:

Yes that works and makes sense.

Thanks

tom's Website

  • Registered: 06/05/2026
  • Posts: 1

Re: General Ledger question or maybe COA

I’d first check if the account is flagged as control or has wrong account types set, since that often blocks entries. I’ve fixed similar issues by adjusting the COA settings.