Hill Consulting LLC 2025
The consultancy's invoices, software and travel expenses with receipts, and an entity cover note.
Accountant handoff · Multi-entity
A handoff template for keeping multiple businesses separate
Running a consulting LLC and a rental property under one roof means your accountant needs two clean, non-commingled packages — not one folder where the rental's repairs and the consultancy's software receipts are tangled together. Commingled records are exactly what makes a multi-entity handoff slow and error-prone. This template gives each business its own fiscal-year folder with its own invoices, expenses, receipts, and documents, plus an entity cover note, so the accountant gets one clean export per business.
The problem
Why multi-entity handoffs go wrong
When two businesses share one set of records, the accountant has to untangle them before any work starts. Separation has to happen at filing time, not at handoff time.
- One entity's expense gets recorded against the other, commingling the books.
- A shared vendor's invoice isn't split, so both entities look like they paid it.
- There's no per-entity cover note, so the accountant guesses which records are whose.
- Both businesses export as one mixed package the accountant has to separate.
- Fiscal years differ between entities and the folders don't reflect that.
The workflow
Keep each entity's handoff separate
Give every business its own fiscal-year folder, file its records there only, and add a cover note per entity.
- 1
Create a folder per entity per year
Make a fiscal-year folder for each business — 'Hill Consulting LLC 2025', 'Maple St Rental 2025' — so nothing crosses over.
- 2
Record each entity's invoices
File each business's invoices in its own folder with client, amount, dates, and status.
- 3
Categorize expenses per entity
Record each expense to the entity it belongs to, by category, date, vendor, and amount, with receipts attached.
- 4
Split shared costs explicitly
When a cost serves both businesses, record each entity's share separately with a note on how it was split.
- 5
Add an entity cover note
Write a short cover note per business — its name, fiscal year, and what's included — at the top of each folder.
- 6
Export one package per entity
Export each entity's folder on its own so the accountant receives clean, non-commingled handoffs.
Record structure
What to record for each entity's items
An entity field on every record is what keeps the two businesses from ever mixing.
- Entity
- Which business the record belongs to, kept consistent so nothing commingles.
- Fiscal year
- The entity's reporting year, which may differ between businesses.
- Item type
- Invoice or expense, so each entity's package is structured the same way.
- Category
- A product-defined expense category, applied within the right entity.
- Vendor or client
- Who was paid or invoiced for this entity's activity.
- Amount
- The total and currency; for shared costs, this entity's share only.
- Status
- For invoices: sent, paid, overdue. For expenses: categorized with receipt, or not.
- Document
- The invoice PDF, receipt, or statement attached to the record.
- Split note
- For shared costs, how the amount was divided between entities.
Example setup
An example multi-entity folder setup
One way to lay out two businesses inside your workspace.
Maple St Rental 2025
The rental's lease income records, repair and maintenance receipts, and its cover note.
Shared costs
Costs serving both businesses, each split into per-entity records with a split note.
Cover notes
A short note per entity stating its name, fiscal year, and what each export includes.
Common mistakes
Mistakes to avoid
- Recording one entity's expense against the other.
- Leaving a shared vendor's cost unsplit so both businesses claim it.
- Skipping the per-entity cover note, leaving the accountant to guess.
- Exporting both businesses as one mixed package.
- Ignoring that the two entities may have different fiscal years.
How it helps
How Cash Workspace helps
A folder per entity
Give each business its own fiscal-year folder so invoices, expenses, and receipts never commingle.
Per-entity cover notes
Add a short cover note to each folder so the accountant knows exactly what each package contains.
Separate exports
Export each entity on its own so every business hands over one clean, non-commingled package.
Related
Related handoff and structure workflows
New accountant handoff
Assemble a first-time package for a brand-new accountant.
Quarterly handoff
Run a consistent handoff package every quarter.
Finance folder structure
Lay out clean finance folders that separate cleanly.
Year-end handoff
Organize the full year for an end-of-year handover.
All finance workflows
Browse the full Cash Workspace workflow library.
FAQ
Multi-entity handoff FAQ
- How do I stop the two businesses from commingling?
- Put an entity field on every record and keep each business in its own fiscal-year folder. Records only ever go to the entity they belong to, so the books stay separate from the start.
- What about a cost that serves both businesses?
- Record each entity's share as its own record with a split note explaining how you divided it. How a shared cost should be split for tax is a question for your accountant.
- Can I export just one business at a time?
- Yes. Each entity has its own folder, so you export one business as a clean package without the other's records mixed in.
Organizing help — not tax, accounting, or legal guidance
Cash Workspace is a free workspace for organizing invoices, expenses, receipts, clients, and documents. This page is organizing guidance only — not tax, accounting, legal, or bookkeeping guidance. Cash Workspace does not connect to your bank, does not scan or read your receipts for you, and does not move or collect payments. Whether an expense is deductible depends on your situation, so confirm it with a qualified accountant or tax professional.
Hand over one clean package per business
Start a free workspace and give each business its own fiscal-year folder and cover note, so your accountant gets a separate, non-commingled export for every entity.