Xero - How to Reconcile Personal Funds Deposited into a Business Bank Account

[@TheBookkeepingChannel]

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[@normanocampo4466]

Hello, subscriber from the Philippines, learning a LOT from you, Mark, Appreciate all the help

[@TheBookkeepingChannel]

Awesome, thank you!

[@Thelinenhousemouse-wf8gf]

Thank you so much for this video, you make xero so easy to navigate

[@TheBookkeepingChannel]

Thank you!

[@user-vg2wm2jx2x]

really useful & detailed information

[@helenvosti8543]

Thank you for your amazing videos. Is there a tutorial on how to make and code a Director’s Loan for a P/L company? I have watched this video but it is the sole trader advice but I can’t find anything about the Director’s Loan instructions. Thank you!

[@recklessstas]

Excellent video just like the others. I've been subscribed since I've started my own business last year and you've been hitting the nail on the head Mark. Could you please make a video on how to code tax payable and paid to the ATO based on the annual tax return? Thank you in advance.

[@rabbitandrew]

Hello, Another new subscriber. Could you please do a follow up video to this one about how to reimburse the owner introduced funds/directors loan. We are running a start up business, so there is money coming in and out of our accounts all the time and reimbursements need to happens revenue comes in. I need to know how to reconcile these transactions. Or could you point me to the course that would have that in it. Thank you for doing these videos. They are very clear and helpful. PS I was able to get through to you courses through the link.

[@SVEACORE]

Hello ! Thank you for this useful video. How would you record a transaction of funds introduced into the company on Xero from a private bank account which is owned 50/50% by the 2 shareholders of the company ? Do you recommend to create an account under liabilities named "Owner A and Owner B 50/50% funds introduced" ? Thank you!

[@xubohuai1]

I don't have any accounting background, I don't understand why " business bank account (debit)"?

[@TheBookkeepingChannel]

A bank account is an asset, which is debit by nature.

[@joshmillgate8154]

Thanks for the video! Very helpful. As a follow-up, how do we reimburse the owner-introduced funds? Cheers!

[@TheBookkeepingChannel]

You can reimburse either through drawings, payroll reimbursements or expense claims.

[@conorvincent2972]

Can you still do this if I transferred the money into my bank account, before my business was using xero?

[@lebronsshoes4535]

Why does the owners funds sit as a liability account? Because in reality it isnt?? What account should it be in?

[@headlibrarian1996]

The business owes the owner that money if it is liquidated.

[@ElizabethaKaur]

Great content! New subscriber here! FYI the link to your Xero courses is not working, I've been trying for a few days now, always fails to open "server is not responding"

[@TheBookkeepingChannel]

Hi there. Thanks for your nice comment and for letting me know about the link. I have clicked on the link and it works fine for me. Is it working for you now?

[@ElizabethaKaur]

@@TheBookkeepingChannel I'm in Asia so maybe is some kind of restriction, when I use a VPN with US location it works :)

[@TheBookkeepingChannel]

I thought it must be something like that. Thanks for letting me know.