Hi Diane,
You would need to CR the loan account and debit, for example, HP interest - I use nominal 7904 in sage, as an overhead.
However, I deal with this on a monthly basis, allocating as a monthly expense to the P&L so if they haven't, then this would probable need adjusted accordingly for previous years (if you know what I mean). Perhaps someone with more knowledge could advise on how to deal with this, even the accountant of the company should be able to advise what to do,
And yes, I would check to see what the refund is for
Let me know what you find out
Best regards
Kerry
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