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How do I manage my personal loans from that of my business?

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Ndungu hello. Basically you need to separate your personal and business finances. Several applications in the web offer that approach. You wil find free and commercial versions, downloadable or online usage. Be sure to discuss the topic with your accountant before taking a decision. Timely coordination and the right app will facilitate bookkeeping, taxes report, payments, and so on. Good luck in your search.

Report Miguel 's answer

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If you have the luxury to have personal loans and business loans, your personal loans have nothing to do with your business at all - so nothing to manage at all.

If you are using your personal loans for business purpose, then you may use your business income to pay you personally so that you can pay off your debt. This means you need to record the transactions and charge to the correct accounts in your accounting system. Instead of looking at how to manage your personal loans from that of your business, you need to adopt the right bookkeeping practices will do, you remain making personal loans repayment at the personal level .

Report Quek's answer

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