All Forum Posts by: Daniel Hyman

Hi Cathy Higbee and welcome to BP. Definitely read the Ultimate Beginners Guide if you have not already.

@Jason Roman Welcome to BP! Check out the Ultimate Beginners Guide if you haven't already. Lots of gems in there.

Welcome @Thomas Connolly Love your goals! Good luck in your journey.

@Steven Segal It depends on the the clients needs. Some clients prefer to enter the day to day activity and have me do a quarterly checkup/cleanup. Others prefer that I do all of the data entry, monthly bank reconciliations, and go over the financial statements with them. Its personal preference.

Regarding the classification-Not sure if I understand the question completely, but single member LLC's (unless you opted otherwise) are disregarded entities, and therefore, there is no balance sheet on the tax return. That being the case, you could class those particular transactions to member draw's in QBO.

I agree with Aleksandrs Vilumsons It's always best to consult with an attorney and CPA to make sure you are choosing the right entity for your particular situation. Welcome to BP Justin Murray !

Hi Steven Segal I would agree with the advice you got to keep them on one QBO account. In my opinion it's cleaner that way. Speaking of clean, it's certainly recommended not to comingle funds if you can avoid it. I usually try to drill that into my clients as early as possible.

Hi Sean Reed I would check out podcast 11. It's the ultimate beginners guide. Of course you can also see that guide on the website itself.

Val Lemoine I also recommend QB as it is user friendly. I would also recommend watching some of the QB tutorials in order to become familiar with some of the basics.

Welcome Morenike Arraheem ! Best of luck to you.

Welcome Maxwell Eras ! I started by reading the ultimate beginners guide on BP. Check it out if you haven't already.