PokerRich
New Contributor
So I am off and running in my new business (LLC). I made my first sale, run up some expenses and am trying to stay on top of my finances. I guess I have 2 similar questions:
1) For businesses expenses that I didn't put on my business credit card but paid in cash or on a personal credit card before we had a business CC, do I physically write myself a check from my business account to reimburse?
2) My business qualifies for home business expenses, do I write a check to myself from my business account for portion of rent/ utilities etc or is this just a paper tax thing?
I fully intend on hiring a CPA, I am actively trying to find one in the area as we speak (apparently the middle of tax season is not the best time to find a new CPA). My question basically stems from how to enter these expenses into Quickbooks.
Thanks in advance.
PokerRich
1) For businesses expenses that I didn't put on my business credit card but paid in cash or on a personal credit card before we had a business CC, do I physically write myself a check from my business account to reimburse?
2) My business qualifies for home business expenses, do I write a check to myself from my business account for portion of rent/ utilities etc or is this just a paper tax thing?
I fully intend on hiring a CPA, I am actively trying to find one in the area as we speak (apparently the middle of tax season is not the best time to find a new CPA). My question basically stems from how to enter these expenses into Quickbooks.
Thanks in advance.
PokerRich
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