Paying Installments

wavetingle

Got a question that is a little tricky to figure out....

I have a bank loan for my business for which I pay an installment of 30000 each month...that is 360000 every year.

My question is, is it necessary for the profit and loss account to show a profit of atleast 360000.

Thanks for any help.

opinions4u

Not sure this is the right part of the site for your question.

The profit and loss account of a business is really something you should be talking to your accountant about.

You will presumably want to minimise your tax bill, while at the same time wanting to show the bank that your business is flourishing.

Talk to the expert!