sammy89
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Allocating transactions
Hey there, Im very new to this and hoing someone can help me. Currently in a partnership 50/50. When allocating transcations, can someone tell me the diffrence between expense and liability? I undertand that expense is something that is money spent on the business - hence epense, but I dont understand what liability is. For example - "Drawing - Liability" for an allocation.486Views0likes1Comment