[GNC] Reporting on expenses of multiple revenue strams

Michael or Penny Novack stepbystepfarm at comcast.net
Mon Dec 2 12:04:09 EST 2019


On 12/1/2019 10:21 PM, Robert Slippey wrote:
> That's an interesting perspective I didn't consider.
>
> How would this look from the LLC's perspective. Would each sub-entity 
> just send over it's rolled up expenses and income?
>
> I do like that idea though... just need to work out in my mind how it 
> would work since we're so wrapped together right now. For instance 
> gsuit works for both businesses since we can direct to different 
> domain names. Hosting for websites is on a multisite installation on a 
> VPS so it's shared costs between the two, ditto to our phone system. I 
> guess those could be just overhead at the llc level?
>
I'd enter shared costs (between their streams) by entering the pro rated 
amount in each. But that's extra work, so if you had a lot of those AND 
they represented just a smallish total amount, what you suggest is good 
too. Could also do an quarterly or annual adjust of the shared expenses.


Michael




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