Chart of Accounts
If I'm taking out from a bank account to give a loan to another company which is another DBA company of the first entity company, what type of account would it be in my Chart of Accounts?
If I'm taking out from a bank account to give a loan to another company which is another DBA company of the first entity company, what type of account would it be in my Chart of Accounts?
let me make sure I understand the question. The second company is a division of the first? If this is correct than it isn't a loan, you can't give a loan to yourself, it is just a transfer of funds from one bank account to another. If it is a completely separate company than it is set up as a loan from your business under other current assets.