JoVPS
Level 1
07-08-2020
01:07 PM
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If a client with multiple SMLLCs (A,B and C). It seems that A pays some of the expenses for B. How do I record the expenses? A has no income but B has income and B has income and hardly any expenses
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qbteachmt
Level 15
07-08-2020
02:22 PM
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A didn't pay for B. The Owner put funds into B and took a draw from A. You record the expenses for the entity that benefited from that expense and for the entity that was on the hook for it, because that is where the expense belongs. Don't confuse Banking with Expense.
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
