Brandy asks: Q: I did a couple of shows where I paid a commission to the store. Not sure how to log these. I paid commission in cash on one and the other one took it out of sales. How to Record Sales Commissions in Xero A: Usually, this “commission” is considered the discount from...Read More

Equity #2 Record a Business Expense paid using Personal Money in Xero Josh asks: Q: How do you input an Expense in Xero when buying something for the business, but don’t really expect the business to pay it back? A: For a business expense where you don’t expect to be paid back and you simply used...Read More

Welcome to the first edition of Friday Q&A! Alexia asks: Q: I’d like to get a better understanding about the Equity numbers on the balance sheet. What is the Equity section on the Balance Sheet? A: The Equity shows the flow of money in and out of the business, including from the owner(s). Owner’s Equity...Read More