Where to Enter Your Equity and Proper Use of CASH from Me
- with a dose of Crazy Advice from an Incompetent CPA
Question from Cassandra:
Hi Mike, I’m really enjoying your QuickBooksForInvestors system!!
Here’s my question….
I have heard you say you don’t bother with the Owner Equity account cause you let your CPA deal with that.
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8 minute On Demand Video shows you how to create Balance Sheets for multiple entities
Thanks Mike! I have a couple of follow up questions. For the LLC, single or multiple, are we suppose to classify every item regardless whether it is a income statement item or a balance sheet item? Also, can I run a balance sheet just for LLC #1 that will not show LLC #2 balance sheet items? This is where my issue comes in, as my balance sheet is not in balance when I run a report just for LLC #1.
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