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Salt Lake City Bookkeeping Blog

Bookkeeping for Intercompany Expenses, and Reimbursements

Posted by Joe Mazur on Mar 4, 2011 11:30:00 AM

It is quite common to see firms add different LLCs throughout the life of their business.  This often makes sense for many different financial benefits, but it often leads to very difficult bookkeeping.  Once the transfer of money between the companies begins, the books need to be checked continuously to make sure the balances always tie.  "The balances of what?" you might ask.  

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Topics: Bookkeeping Errors, quickbooks online banking, bookkeeping challenges, online banking, intercompany