Looking for feedback from the community surrounding a multi-member LLC (3 owners) that are performing work and therefore would like to track hours worked. The goal of the initial tracking is to assist with measuring how accurately we are estimating jobs.
Given we are owners/members - not employees - would trying to track our time in the timesheets module in QB cause reporting or systematic issues when it comes to end of year financials? (a/k/a - we do not want to negatively impact any financial statements to show we have employees, as we do not. We are owner/members looking to track time).
Lastly, why do some of the posts recommend setting yourself up as a vendor when you are an owner of a company? Then other posts advise against it.
Thank you.
