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looking to open up a directors loan account well watch on as a business accountant my team and i spent all day long helping business owners on their journey and one area one question we get asked a lot about is the directors loan account now if youve not come across that terminology before there are other videos on the channel where you can check those out but for now just know that if youre in a limited company its normally the way you deal with money thats put into the company by the owner or comes out quite often it might be salary or dividend but sometimes they can go through this kind of directors loan account but if you havent decided what those values are by default you tend to put them there so if youve got money coming in particularly in the early stages of business people normally want to know how to open up a directors loan account so in this video im going to show you physically how you do it in your bookkeeping records so before i get into that if you like these
