cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Get unlimited expert tax help and powerful accounting in one place. Check out QuickBooks Online + Live Expert Tax.

Reply to message

View discussion in a popup

Replying to:
Anonymous
Not applicable

Reply to message

A partnership LLC is not 3 separate businesses under one roof - its a single business that the partners share in the results of.

Normal course sales, receipts, expenses and payments all belong to the business - not the individuals. So there should be no entries to the partner accounts, unless a partner is actually moving cash in or out of the business to themselves personally.

Need to get in touch?

Contact us