Jan 29 • Q & A
Question about Chart of Accounts
Is there a 'Best Practice' for setting up a Chart of Accounts for a sole proprietor? Primarily I'm wondering if there should be Owner's Contribution (or similar title) Owner Draw (or similar title) and Retained Earnings. I'm confused because I see quite a few variations and I'm not sure what is best, especially when it comes to tax purposes.
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Question about Chart of Accounts
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