๐๐ฌ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ๐๐ฌ ๐ ๐ซ๐จ๐ฐ, ๐ฌ๐จ ๐๐จ ๐ญ๐ก๐ ๐๐ง๐ญ๐ข๐ญ๐ข๐๐ฌ ๐๐ง๐ ๐ฅ๐ข๐ง๐๐ฌ ๐จ๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐จ๐๐๐๐ซ๐ข๐ง๐ ๐ฌ โ ๐ญ๐ก๐ข๐ฌ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐๐๐ญ๐๐ฌ ๐ข๐ง๐ญ๐๐ซ-๐๐จ๐ฆ๐ฉ๐๐ง๐ฒ ๐๐๐๐จ๐ฎ๐ง๐ญ๐ข๐ง๐ .
Many businesses choose to consolidate, add or create LLCs to
meet various needs or products and services that are offered. Often times these
additions can create a routine accounting function called inter-company
accounting.
While many business owners are focused on money flowing in
and out of the company, only the accountant is truly concerned about the inter-company
accounting because sometimes it can be a real challenge.
If you are struggling to manage your firmโs inter-company
accounting then the answer you seek lies within Tradition Accountingโs product
package. This type of function is serious, complex and when left unmanaged it
can create exposed liability to the LLC. Many in-house bookkeepers will simply
record the transactions as a due to/due from or some other incorrect method of
recognition.
What many business owners fail to realize is those due
to/due from will never get zeroed out and will go on forever.
Many expenses are often shared between each entity โ staff,
equipment, and office space to name a few. The proper way to move cash between each
entity is to create an invoice for the allocation of shared expenses.
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