6 Answered Questions for the topic Small Business

04/15/19

When starting a small business, how does one properly record "seed inventory"?

Let's assume someone wanted to start a small, simple business. They go through all of the paperwork to get an LLC, they set up a business checking account and they are ready to go. Such an... more

03/19/19

As a small business owner should I have a separate account for payroll?

Note: I'm currently using cash basis accounting. Just recently I've started using QuickBooks Online to keep track of my profit and loss as well as pay my employees. The problem I'm facing is that... more

03/16/19

How to represent "out of pocket" purchases in general ledger journal entry?

If you use personal money to pay for expenses (advertising, equipmemt), how do you represent this in a journal entry? Normally, if the money was coming from the business, you would just decrease... more

09/17/15

What percentage of the total job cost should I charge if I am just a consultant and not making any profit on the electronics?

This is new territory for me as I will not be making any profit on the actual hardware or installation, but I have done all the research and leg work for a new install at a school.  The hardware... more

03/19/14

All of the following actions result in equity capital EXCEPT ________. issuing bonds liquidating assets issuing stock reinvesting earnings

All of the following actions result in equity capital EXCEPT ________. issuing bonds liquidating assets issuing stock reinvesting earnings

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