Accounting Questions


1 Votes
2 Answers
6.29K Views
Can I deposit money into my LLC for start up costs or does it have to be a "loan"

I have heard it is necessary for any money transferred into an LLC for start up costs has to be a loan. Does that mean I can't just put my own money into it?

asked Aug 6 '16 at 18:14
Blank
Kelli Mcmullen
6 points

7 Votes
4 Answers
3.06K Views
Alternative to QuickBooks for a small (1 man) S-Corp?

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...

asked Mar 10 '12 at 03:23
Blank
Dave
160 points

3 Votes
1 Answers
1.88K Views
Does a single-member LLC provide the same asset protection as an LLC with many partners?

I'm bootstrapping my startup and don't have any plans on raising money. As such, I've decided to keep accounting simple by going with a single-member LLC.What's not clear is if it would provide the...

asked Jun 4 '14 at 18:43
Blank
Carlton Smeltzer
17 points

0 Votes
2 Answers
1.34K Views
Paul Graham's equity equation: how does the math work out?

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...

asked Jun 7 '14 at 05:43
Blank
User33952
1 point

1 Votes
1 Answers
1.22K Views
Can I transfer funds from my LLC into my personal account?

If I am a joint owner in an LLC, can I transfer funds to my personal account. The LLC was under my husband's name when filed for the state number.

asked Jun 16 '15 at 15:55
Blank
Andra Moss
6 points

0 Votes
0 Answers
871 Views
Working for US based company from Singapore, payment to India account. Which country would I pay taxes in?

I live in Singapore and work for a US based company as contractor getting paid to my Indian account. Which country should I file my tax returns in? Should the Indian account be NRI/NRE to get the...

asked Jun 29 '15 at 04:24
Blank
Sowmya
1 point

0 Votes
0 Answers
374 Views
Accounting firms specifically for startups in NYC?

Are there any accounting firms geared specifically for small startups in New York City?Why firms just for startups? I did the same for finding a lawyer (which deals specifically with startups) and...

asked Mar 7 '14 at 13:10
Blank
James Urquhart
140 points

0 Votes
1 Answers
543 Views
What are your favorite accounting / financial hacks for startups?

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

asked Feb 13 '14 at 12:29
Blank
User30111
1 point

1 Votes
1 Answers
2.27K Views
Using existing PayPal and Amazon accounts for new LLC

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...

asked Nov 15 '13 at 09:55
Blank
Jordan Magnuson
8 points

0 Votes
2 Answers
471 Views
Where Can I Find Clients to Offer Virtual Assistants and Project Management Services to?

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...


2 Votes
1 Answers
551 Views
How should I setup accounts for a small non-profit with monthly membership dues?

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...

asked Jul 31 '13 at 01:19
Blank
Ahhchuu
13 points

0 Votes
1 Answers
471 Views
Credit card for business expenses: not 100% business OK?

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...

asked Jun 12 '13 at 14:53
Blank
Archagon
111 points

2 Votes
1 Answers
770 Views
Do I have To Pay Taxes In The US?

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...

asked Jun 28 '13 at 12:24
Blank
Jose Rodrigues
11 points

0 Votes
2 Answers
411 Views
Should the purchase of an asset count towards the monthly net profit of a company?

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...

asked Apr 25 '13 at 01:08
Blank
User17220
19 points

2 Votes
1 Answers
589 Views
Using accrual accounting for recording catering transactions, should I have an account for each customer?

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...

asked Apr 16 '13 at 03:22
Blank
Io Samurai
123 points

0 Votes
0 Answers
332 Views
How to simplify my quickbooks items list

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,...

asked Mar 23 '13 at 01:51
Blank
Jvance
1 point

0 Votes
2 Answers
772 Views
How do I integrate accounting and logistics software into an all in one system?

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...

asked Mar 16 '13 at 01:09
Blank
User25491
1 point

-1 Votes
1 Answers
371 Views
What is really considered overhead in a web-based app business?

The setting is a web-based app that charges a fee per month to use the service. You have rent, utilities, servers, developers, graphic designers, marketing, legal, accounting, office supplies,...

asked Feb 28 '13 at 07:39
Blank
Martin's
121 points

0 Votes
1 Answers
400 Views
Tracking all work/items-delivered are invoiced

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...

asked Feb 10 '13 at 05:57
Blank
G18c
113 points

1 Votes
2 Answers
1.88K Views
Accounting upfront payments in an accrual manner

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...

asked Feb 3 '13 at 09:33
Blank
Jonallard
106 points