I'm looking for an accountant who is qualified to advise in the UK as we as the US. I own a product company that has an entity in both the UK and US. The UK is an LTD with one director, and the US is a C corp with one director. The UK company was incorporated on Sept 2016. The US entity was set up on Jan 10th 2017 and incorporated in Delaware.
In the UK I'm just about to submit the first year accounts (Sept 2016 - Aug 2017).
The first year was just all costs of developing the product, which came to around £24,000. I've done all the bookeeping on Xero, so the accounts are ready to be submitted.
900 products were produced in the US. The retail value is around £60,000. Two thirds of the cost of production were paid to the contractor manufacturer from the UK entity, and the final third was paid from the US entity.
I'm not sure how to account for this inventory and which country I attribute it to?
Also, I filed a 2017 Delaware Franchise Tax Report. I haven't yet submitted the numbers though. There were only costs of around $6000, but I don't know how to account for the stock (which resides in a 3PL warehouse in the US).
So I'm really looking for some "per hour advice" and perhaps a call to discuss all of this.
12 freelancers are bidding on average £28/hour for this job
Hi there, Greetings, I am a Chartered Accountant and a CPA with over 10 years of experience in Finance and Accounting. I believe I can Help you in accounts. Looking forward to hearing from you Regards