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tracyb
Joined: 19 Jan 2006
Posts: 10
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| Posted: Fri Sep 26, 2008 8:19 am Post subject: client incorporated |
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My client incorporated but is using a new bank account for
the corporation and the old bank accounts for the old sole prop.
Client will eventually only use the new account. Meanwhile,
what are your thoughts on when to create a separate qb file for
the corporation and using both accounts.
Tracy |
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Ken
Joined: 17 Aug 2005
Posts: 148
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| Posted: Tue Nov 11, 2008 4:54 pm Post subject: |
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| The new QB file should start when the corporation is started, using both bank accounts. |
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techentre
Joined: 27 Nov 2008
Posts: 7
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| Posted: Thu Nov 27, 2008 7:27 am Post subject: |
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If you are converting the sole-proprietor into a corporation then wouldn't you continue using the same QB file and just add the bank account? I guess that would only be the case if you were converting and not starting an entirely new company.
There would be some issues transferring assets and the like to the new company if it was entirely separate. Also, wouldn't you lose your business credit history if it was a new company? |
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