Setting up a sole prop. business
I'm getting ready to set up a sole prop. business. He is going from spreadsheeet bookkeeping to Quickbooks. Do I just start with their bank statement balance, and go from there? I'm used to setting up corporations (S corps, LLC's) where you need their balance sheet balances, so I feel like I'm missing something... Their bank account balance would be offset in the beg. balance equity account, is that correct?? Any suggestions is GREATLY appreciated!!
