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Thread: Help with accounting / Ledger for Sole Proprietor

  1. #1

    Default Help with accounting / Ledger for Sole Proprietor

    I'm a small Small Proprietor. I have a business checking and savings account. I want to properly document my transactions- a savings account is dedicated to charitable donations; How do I make the xfer from checking to that account as well as withdrawals?

    Thank you,

  2. #2
    Mr. Tax Man
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    Quote Originally Posted by JME81 View Post
    I'm a small Small Proprietor. I have a business checking and savings account. I want to properly document my transactions- a savings account is dedicated to charitable donations; How do I make the xfer from checking to that account as well as withdrawals?

    Thank you,
    Each ledger indicates a transfer (out / in). Fairly straight forward in that regard.
    Small Business CPA
    "A tax loophole is something that benefits the other guy. If it benefits you, it's tax reform."

  3. #3
    Registered User
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    You can maintain necessary accounts such as a ledger and keep account details by yourself (provided you must have basic knowledge about accounting and taxation). As an ultimate solution, there are so many accounts professional out there who will maintain all your transactions and provide financial consultation as well like exemption.

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