Index
06:00 Screen sharing begins
06:20 Setting up equity accounts in the chart of accounts
07:30 Contributions vs distributions and capital
09:48 Adding in an additional chart of accounts for equity
11:10 Always check consistency of naming the chart of accounts
16:00 Equal owner example
16:42 Profit and loss, viewing net income
17:00 Balance sheet showing equity accounts in retained earnings
18:00 Dividing net income by 3 shareholders
18:37 Preparing journal entry showing 3 shareholders divided income in their capital account
19:50 Viewing the balance sheet
22:13 Changing perception of clients
23:10 Removing clients obstacles from a bookkeeper perspective
29:50 Close the books with password
30:25 Balance sheet review from 18:37
31:30 Creating parent equity account
33:37 How do you consolidate the capital chart of accounts
36:41 Protect your s-corp client
43:25 Overall recap for protecting clients
45:46 Client under scrutiny, have bulletproof questions
51:00 Trust client's intuition when "something doesn't look like"
52:24 How do the loans from shareholders play a part in this?
54:55 Should there be interest on the loans?
56:53 Two people to consult when deciding to choose an entity type
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28 сен 2019