How to use XERO software to record this.

To get the company underway you contributed $100,000 of your own money and borrowed $250,000 from the CBA bank. The loan is a 5-year secured business loan, with an interest rate of 6% and monthly repayments of $4,250 recorded at month end. Both the capital contribution and the loan are GST exempt transactions.

Answer rating: 100% (QA)

To record the transactions in Xero software you can follow these steps 1 Set up Bank Accounts Create ... View the full answer