You can use Capital Accounts tab to set up yourself on it. A balance sheet provides important information that lenders need to make a decision about a loan.Because it summarizes your assets and debts. (b) Except as otherwise provided in the bylaws, the board of directors shall elect the officers, fix their compensation and fill vacancies however occurring. Pennsylvania Business Owners: You must file an Annual Report starting in 2025. Know the requirements and deadlines. In this video I'm going to show you physically how you do it in your bookkeeping records. Statement and Statement of Cash Flows and all relevant notes thereto. To form an LLC, a Certificate of Organization is required to be filed with the Corporation Bureau of the. Yes setup directors loan account as asset on balance sheet, then do bank spend and allocate to DLA.