Question: Hello Mike,
Would you please give me some guidance.
To make sure I am of the correct mindset in reading the Investorbooks manual ... on page 86 you mention if we are using single member LLC's (which are a pass through entity as fax as the tax prep) we set them up on one set of Books ... then does that mean that if we are not using single member LLC's and instead have a Corp that files its own return and a Multi-member LLC(s) that files its own 1065 that these will each have their own set of Investorbooks?
And ... if the Corp is on a fiscal year versus Calendar year end for taxes, does that make a difference as the way we would log the Fixed assets may be better using Fiscal Year versus Calendar year which may cause havoc with the other entities.
Thank you Mike,
Steve
------------------------------------------------
ANSWER:
Great question Steve.. Don't make it so complicated. QuickBooks is a very powerful program allowing you to slice, dice, thrash, and smash your numbers.... providing you have it set up properly and use it properly as well.
You are making it way too complicated Steve. Let's dumb it down. here are your simple Rule Of Thumbs to keep you on the right path and It Is ALL DONE In Investor Books Pro... ONE Company File for ALL of Your Real Estate Entities and Businesses. If You have multiple entities
You are unauthorized to view this page.
