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If you are in the US, then each company is required to have its own accounting file, even if you are a sole proprietor. You just include one schedule C for each company in the 1040 filing.

 

Moving funds between companies will depend on how the companies are taxed, if both companies are some combination of sole proprietor or partnership, then you can take money out using an equity draw, and put it in the other as an equity investment.

 

But doing it that way also means the receiving company is not getting that money as sales income, if in fact that is what it is.

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