I am trying to reconcile due to/from accounts in quickbooks for a company. the owner has 6 LLC's that he transfers money to/from. It is a huge mess!! The transfers are made basically to cover payroll out of each company. I guess you could say he is robbing peter to pay paul type of scenario.
My question is how do I zero the accounts?
Also, is this the correct accounts he should be using to track this? Shouldn't he just invoice the other company and avoid using the due to from accounts?
Please Help!!
My question is how do I zero the accounts?
Also, is this the correct accounts he should be using to track this? Shouldn't he just invoice the other company and avoid using the due to from accounts?
Please Help!!