Posts Tagged ‘Balance Sheet’

leasing software

I need a certain accounting software that can journalize transactions for service corporations (e.g., rent/lease business), post it to ledgers, prepare financial statements(income Statement, Statement of Retained Earnings, and Balance Sheet, and a worksheet/spreadsheet (optional). It must be used by at least three companies.

If you happen to know one, where can I download it?

Thanks a lot. i hope i could find an answer by tomorrow, as I need to have the software by Thursday.

Thanks in advance.

Read the rest of this entry »

equipment leasing companies

I’ve got a situation where I’m not sure if I’m being too creative, so I’d like to get some advice from any accountants out there.

I have 2 companies, a C-Corp and an LLC. The LLC buys equipment (such as trucks & contracting equip) then leases that equipment to the operating company. The equipment is on a 5 year depreciation schedule. Investors in the LLC are paid a return and gain tax advantages from the depreciation. The operating company is harder to sue. Here’s 2 issues:

Can I have the LLC buy a website from a website design consultancy (a website designed for the operating company’s brand/industry/business), then list that website as an asset on the balance sheet. THEN can I depreciate that website over 5 years (reason being that the website will depreciate due to new technology becoming available, changes in our business/industry, etc.). THEN can I lease that website to the operating company for LLC income? Obviously I’m going to run this by my accountant, but I wanted to hear some other opinions before doing that. I’m in California, btw, if it makes a difference.

Read the rest of this entry »

Sponsored Links
My Products