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9 votes
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Matthew Cummins
supported this idea
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4 votes
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Matthew Cummins
supported this idea
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This is absolutely critical, and my biggest disapointment with Xero after moving from another package.
As a sole trader taking money out of the business or adding money in to the business are equity activites, not operational activities.
Regardless of accounting standards, or how equity is classified, from an operational point of view I want to be able to see how much money came in for a month, and how much money went out on OPERATIONAL areas and actual business costs, EXCLUDING my drawings. Otherwise it doesn't show an accurate or useful picture of the business operations itself.
If my revenue was $10,000 for a month and my business costs were $3000 and I withdrew $6000 is a VERY different situation to if my revenue was $10,000, my business costs were $7000 and I withdrew only $2000 for the month. Yet both those scenarios would show up exactly the same on the graphs. Owners equity drawings and also adding capital are a very, very different type of transaction to all other business cash flows.