Hello Lokesh B ,

Thank you for reaching out regarding this situation. I understand you need to input loan details for expenses paid with an investor's personal credit card into Sage Accounting US, even after taxes for that year have been filed. Here’s a concise guide:

Recording the Transaction:

• Option 1: Third-Party Bank Account and Journal:

  • Create a "Third-Party" bank account in Sage.
  • Record the expense from this account.
  • Use a journal entry to transfer the payment to a liability ledger.
    
    

• Option 2: Ledger Offset with Credit Note:

  • Use a ledger offset for the invoice using the "credit note" feature in Sage.
  • Record the refund against the same liability ledger.
    
    

• Option 3: Direct Journal Entry:

  • If VAT isn't involved, directly record the transaction between the purchase ledger and the liability ledger.
    
    

• Option 4: Record Upon Business Refund:

  • Wait to record the expense from the Business bank account when refunded by the business. Note that this does not show the liability.

Next Steps:

• Adjust your tax filings if necessary, considering these unrecorded transactions.
• For detailed instructions, visit this Sage Knowledgebase article.
• Consult a tax professional for guidance on post-filing adjustments.

I hope this summary provides clearer guidance for your situation. If you need further assistance, feel free to reach out.

Warm Regards,
Erzsi