Accounting Questions

I have a multi-member LLC and we elected to go the mileage route instead of actual auto expenses. Can we enter mileage as it incurs each week as an expense on our books? Or do we have to track...

LLC Accounting Bookkeeping Accounting Method Small Business

asked Aug 29 '17 at 02:56

MissQB
1 point

I'm currently using a 2009 version of QuickBooks Pro for my S-Corp accounting needs. They recently sent me a letter "suggesting" I upgrade to the 2012 version ($200+) as many of the features of the...

Tax Accounting

asked Mar 10 '12 at 03:23

Dave
160 points

Regarding this excerpt from Paul Graham's essay The Equity Equation:Let's run through an example. Suppose the company wants to make a "profit" of 50% on the new hire mentioned above. So subtract a...

Equity Accounting

asked Jun 7 '14 at 05:43

User33952
1 point

Are there any unique tips and tricks that you use in your startup when it comes to credit cards, expenses, etc?

Finance Accounting Startups

asked Feb 13 '14 at 12:29

User30111
1 point

I'm going to start out by providing a bit of background info here. My actual question is in bold, below. So my wife and I run a website for digital artists that sells download subscriptions. This...

LLC Finance Legal Financial Accounting

asked Nov 15 '13 at 09:55

Jordan Magnuson
8 points

Hello I own a business service support firm which overs accounting, administrative support, and project management services. Currently, we begin offering software training and solutions to...

Marketing Software Virtual Workforce Accounting Clients

asked Aug 21 '13 at 04:00

Te Leigha Peavy
1 point

I am attempting to create books for a small non-profit where we have a member base who pay a monthly membership due. I have thought about creating an accounts receivable for each member that would...

Accounting Bookkeeping Small Business

asked Jul 31 '13 at 01:19

Ahhchuu
13 points

I'm thinking of starting an LLC for my app projects, and I'd like to keep a separate business credit card to make the corporate veil harder to pierce. However, a lot of my business expenses are...

LLC Credit Cards Accounting

asked Jun 12 '13 at 14:53

Archagon
111 points

I own a website and I sell digital content. I'm a non-resident alien with the US. Most of my customers are US based so I was wondering... Will I have to pay any taxes to the US? I have read that...

Tax Accounting

asked Jun 28 '13 at 12:24

Jose Rodrigues
11 points

We operate a network of websites and from time to time we purchase other websites to add to this network of sites. At this point our company is profitable and we do monthly distributions to each...

Accounting

asked Apr 25 '13 at 01:08

User17220
19 points

For example I could make a transaction like this: Order Placed for Yummy Meatball Platter $120 debited to Cash Account $120 credit to Food Payable(?) Account Then all outgoing payments (in the...

Accounting

asked Apr 16 '13 at 03:22

Io Samurai
123 points

I am using Quickbooks to handle invoicing, purchasing, sales, etc. and so, to facilitate all these processes, I have an 'Items' list; I know, pretty standard stuff, right? Well, here's my problem,...

Software Accounting

asked Mar 23 '13 at 01:51

Jvance
1 point

I would be starting an online clothes shop. Instead of having 2 systems act independently when an order comes in where the logistics system would handle which item warehouse should be packing and...

Accounting

asked Mar 16 '13 at 01:09

User25491
1 point

We are a small business and use Xero.com (which is an accounting system without ERP functionality). What we have found that we have at times lost track of items requested by the customer, and have...

Finance Business Process Accounting Invoice

asked Feb 10 '13 at 05:57

G18c
113 points

In a subscription-model context, a customer can be offered to pay for a year in advance in exchange for a rebate. This might be desirable for the business for cash flow reasons. In accrual...

Subscriptions Accounting Cash Flow

asked Feb 3 '13 at 09:33

Jonallard
106 points

Suppose: Company A owns product P P is managed by company B The sales contract is between A and customers A has a contract with B such that B receives all income generated by P Could B directly...

Sales Payments Accounting

asked Feb 6 '13 at 03:29

Kate
99 points

I have a supplier that sends me invoices in advance, with so many days to pay. I want to enter these invoices into my accounting software as soon as they arrive, so I know what my commitment is for...

Business Process Accounting Invoice

asked Dec 8 '12 at 03:59

Tim Long
108 points

My partner & I just won $30,000 in a business plan competition. We haven't incorporated yet (and therefore haven't cashed the check). We plan on spending all the money to get the business...

Incorporation Legal Tax Accounting

asked Nov 28 '12 at 04:12

Thread7
11 points

My wife is starting an architecture business as a sole proprietor. One significant expense is insurance. Suppose that she pays $10,000 for insurance now that covers the period Nov. 1, 2012 to...

Tax Accounting Expenses

asked Nov 1 '12 at 10:36

Kekito
1,936 points

I started a little software company as a sole proprietorship and I'm generating income from an app in the Mac App Store. I have made a few business related purchases (software, web hosting,...

Accounting Bookkeeping

asked Nov 1 '12 at 14:49

Mike T
174 points