Start up equipment

Question asked by Matthew Green 3 years ago

I am currently a sole trader and moving to ltd company, i am wanting to put the equipment in to the new company via the directors loan account as it is effectively a loan how do i do this for example the equipment cost £5000 so i transfer out £5000 for the directors loan account bur where would i put that money going to as it is not real money but or do it as a bill from myself and pay it from the directors loan account. Thanks

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Hi Matthew,

That is a tricky one. For you to create this it would likely need to be done via a journal, but I am not clear on what opposite account code would be and I would advise speaking to an accountant.

All the best.

Mohamed.

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3 years ago

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