Help with 2 business
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Nikita
Registered Posts: 14 New contributor 🐸
Hi. I am doing book keeping for one person who has a shop and then they do some work self employed too - we use xero software. There is an invoice that’s for the shop which I reconciled with directors loan payment as this wasn’t paid through the bank on xero. I have since found the payment of this invoice on his self employed bank account on xero on his other business. What would I reconcile this too - shop supplies - but what funds owners funds introduced / drawings? Basically I am getting confused as don’t want to account for this cost twice ?
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Hi @Nikita
If I understand correctly the invoice for shop supplies as nothing to do with the indivdual's self employment so the payment from his self employment bank account should go to drawings.
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Thank you ?0
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