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lwpat, Attorney
Category: Business Law
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Experience:  Attorney with over 35 years of business experience.
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Ive recently started a sole proprietorship buying and selling

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I've recently started a sole proprietorship buying and selling on eBay. I only got my Indiana Retail Merchant Certificate in July to be able to sell to Indiana buyers as well, but I'd still sold a few items on eBay and Amazon to out-of-state customers prior to that date. Is it okay to track my books in Quickbooks on an annual basis, from January-December, even though I didn't get my official license until July?
Submitted: 7 years ago.
Category: Business Law
Expert:  lwpat replied 7 years ago.
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Yes that is fine. Since you are a sole proprietor your taxes will be filed on a calendar year (Jan -Dec) basis so that is how you need to keep your books.
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