Accountant for LLC Alternative A month you can read out loud
Software with the company name on it is not yet a month you can explain.
Three piles, not one number
You should be able to point at sales. You should be able to point at what you paid to produce them. You should be able to point at what you took out. If those three live in one account, the month is a story, not a set of books.
The election decides which pile lands on which return. On a disregarded company, money the owner takes home is a draw, not a cost of goods. On an S election, a wage is a wage, and a distribution is something else. Mixing them makes the return argue with the bank.
A bill that shows up on the same day every month is a comfort. Any owner can love a charge that arrives when it said it would. A month is finished only when that same day shows up in the bank, tied, and not still sitting in the feed as a hope.
An open month stays open
A nearby deadline does not turn an open month into a closed one. If the bank has not been tied, the October decision you want is a guess, and we will say so. Cleaning the month up comes first, or we wait.
Payroll setup is part of a readable month when the company has wages. The accounts have to exist before the first run. You, or the provider you already picked, run payday once the wage accounts exist. We read the result. Payday processing is a job we leave with the company that already has the employees.
Equity is where small company files go muddy. Money in and money out get dropped in one bucket, and the return then has nothing honest to say about contributions versus distributions. We keep those apart, because the tax lines are apart even when the total looks unchanged.
Bring the month you have
Messy is allowed. A year of unreconciled activity is a project with a shape, not a moral failure. Name the newest month where the bank and the books already agreed, and if none has, say none. That sentence is more useful than a software brand name.
Put a lender's request for a signed opinion in the first note you send. We cannot produce one. You will hear it immediately, and you will not get a proposal you cannot use.
A readable month is the gift the rest of the year stands on. The return, the May report, and any choice still open in October all read better when the month is a thing you can point at. Name the month. We will tell you whether it can be read out loud.
Describe the month
Say whether the last month tied to the bank, and how far back the gap goes.
You will be talking to the Steven Palmieri practice.