Bookkeeping

What is the best way to record the New business Purchase under same LLC?

One of my clients who is an Amazon Seller recently bought an Amazon Seller Account / New business for approx $11,000. In this case what would be the best practice to record this purchase?
1) As an Asset in current books and if Asset what would be the most suitable place; Current or Fixed Assets
2) Ask him to maintain separate books for this New Amazon seller account.

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Answer

  1. 74 Answers

    Hi because the business is now under the same LLC you can record the $11K as an “other asset”. There is no need to maintain separate books. Hope this helps, have a great day!

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