Newbie here. I formed an LLC for protection purposes as what I do is mostly part-time consulting. I paid my attorney a total of $1500 that includes the legal fees and state fees for incorporation. It was paid from my personal account. How do I record that in my books? If I debit an equity account and credit my bank account, my bank account wouldn't reflect what was really in the account. I am thinking I could submit an expense report to the company and then pay myself back the legal fees and credit the equity account when I do.
Any thoughts would be helpful!
~ SW
Any thoughts would be helpful!
~ SW