He started a LLC business in January but kept using the established checking acct. for one month. Now its all separated but I still have to reconcile my bank statement. I have pulled out all the personal transactions but I can't seem to make the numbers match with whats in the bank.
1. When you in the reconcile screen, you checkmark the transactions that cleared business bank account and reconcile the account as of 1/31/2013.
2. Then you go back to reconcile by entering the same ending balance as beginning balance and same date 1/31/2013.
3. In the reconcile screen, you checkmark all January transacions, but leave the real outstanding transactions from business bank unchecked. then click reconcilie it and it will ask you to choose the account to record the reconciliation discrepancy, you choose "due to members" account.
I am so confused. The checking had a beginning balance in the bank. I don't want to show any of the personal stuff in the new business books.
All 2012 stuff was reported as self-employed. As of 2013 he is incorporated but for the 1 month things were together.
I just want to know exactly how much money I have in the bank and my books to match it.
