Account layout for a personal business
trythis
grahamlane at gmail.com
Mon May 3 20:22:18 EDT 2010
Mike or Penny Novack wrote:
>
> But the question is, why would you WANT to do this? Why would you want
> to co-mingle your business accounting with your personal accounting?
>
>
It isn't worth the expense and hassle to open yet another bank account, pay
the fees and then have to transfer money from one to the other all the time.
I am often in a situation where I need to buy something when there is no
money in the business assets, and I have to use the personal checking and
visa-versa.
I rarely produce reports, except once a year for taxes and its pretty easy
to select what I want to report with the system I set up.
If I start making enough money to make it important, I will hire someone to
do this for me and toss the whole thing to them anyway.
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