Becky_simon
Well-Known Member
The loan - I think you are going to have to show that you have recieved 2 lots of income, firstly the loan, then the 'loan' from your husband, then 1 expense which is the payment of loan.
It will show that you now owe your husband the amount instead of the loan company.
Income A = Original loan Amount
Income B = Amount your husband paid towards it (which in essence has been paid to your business as another loan for the purpose of paying off the original loan)
Expense A = All loan repayments
Although the original loan has been cleared by your husband, for the purposes of accounts your business still owes that money, so instead of owing the loan company it owes your husband.
Does that make any sense at all lol I can see it clearly in my head how it should look on paper but can't put it into words very well! :irked:
Really! Yes that does make sense what you said *THREE CHEERS PLEASE EVERYONE.
However I had no idea I will be classed now as owing the money to my husband. The whole point of him paying it was so I didn't have to worry about a monthly cost each month when I was earning so little. So he cleared it completely for me. So I was under the impression that its all paid and thats the end of it.
AAAA technically my husbands money is from our joint personal account so technically ive paid for it too lol so does that mean I owe myself lol HELP!!