๐€๐ฌ ๐›๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ๐ž๐ฌ ๐ ๐ซ๐จ๐ฐ, ๐ฌ๐จ ๐๐จ ๐ญ๐ก๐ž ๐ž๐ง๐ญ๐ข๐ญ๐ข๐ž๐ฌ ๐š๐ง๐ ๐ฅ๐ข๐ง๐ž๐ฌ ๐จ๐Ÿ ๐›๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ ๐จ๐Ÿ๐Ÿ๐ž๐ซ๐ข๐ง๐ ๐ฌ โ€“ ๐ญ๐ก๐ข๐ฌ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก ๐œ๐ซ๐ž๐š๐ญ๐ž๐ฌ ๐ข๐ง๐ญ๐ž๐ซ-๐œ๐จ๐ฆ๐ฉ๐š๐ง๐ฒ ๐š๐œ๐œ๐จ๐ฎ๐ง๐ญ๐ข๐ง๐ .

 

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 firmโ€™s inter-company accounting then the answer you seek lies within Tradition Accountingโ€™s 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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