View a director’s loan account

This article explains how to view a director’s loan account in FreeAgent.

A director’s loan account is automatically created when you add a new user with the role of ‘Director’ in FreeAgent.

You can then explain transactions to and from the director's loan account for each individual director.

Once there are transactions allocated, to view a director’s loan account in FreeAgent, navigate to the ‘Accounting’ tab at the top of the screen and select ‘Reports’ from the drop-down menu.

Select ‘Show Transactions’ from the ‘Detailed’ section.

Select the relevant time period and then ‘907 - [X] Director Loan Account [X]’ from the drop-down menus to display all transactions explained to the director’s loan account for the selected director. 

Alternatively, you can view all of the director’s loan accounts for all the company’s directors by navigating to the balance sheet in FreeAgent.

As well as account 907 you may also wish to check the balances on the following accounts which typically are considered to form part of the final balance of the money owed to, or by, the director:

• 902 - Salary and Bonuses
• 904 - Benefits in Kind
• 905 - Expense Account