Directors Current Account/Loan Account

This is a fully automated template. It brings in all the payments and receipts from the relevant ledger information and puts it in the correct period. You can then see the movement in the director/s current/loan account over the month/year.


At the bottom of the template, you have an option to select whether interest has already been accounted for and, if so, where this has been done (i.e. in Silverfin or in the underlying bookkeeping system): 


- Within Silverfin itself. This will update the balances to exclude the expected interest.


- In the bookkeeping data. This will update the balances to include the expected interest.


You can see a breakdown of the interest calculation by selecting the 'Interest Calculation' box:

You are able to update/edit the 'Official rate of interest'.

As you can see above, you will get a warning if the director's current account is drawn down in excess of £10,000 in at least one month which notifies you that you need to post interest to avoid a P11D benefit to the director.


There is also an option to select whether a CT61 is required (if interest has been charged on a director's loan account which has not been overdrawn) and attach any relevant supporting documentation. 

Note: This information is 'extra' and doesn't adjust the template in any way


The details entered on all the above templates will fully automate the details in the DLA transaction detail document. This can be found in the 'Documents' folder.

If these aren't showing as automatic in your Documents section, simply hit Actions > New Text and you will be able to select.

Note - This is new, so if you don't see it available under new text, make sure to add it in from the Marketplace!

This document can be used as an official confirmation from directors of the balances owing to/from the company at year/period end.


If you have any questions please be in touch and we would be happy to help out :)


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