Questions about invoicing/accepting payments and other financial confusions.


First of all, I apologize. I have a ton of questions that are all very scattered.

I (21/F/USA) just opened up an LLC for digital marketing and I am unsure about the financial aspect of owning a business. I applied for an EIN and intend to open a business bank account. I have been working and making money from my business while I waited for my LLC to finalize (I applied beginning of May and only just today got my paperwork back). So, for the whole month of May, I have been gaining income on my business while not being able to officially create a business bank account. So my questions are:

  1. Is it illegal for me to just transfer the amount of money I have made from my personal account in to my business account?

  2. As a small marketing business, I only plan to have roughly 5-7 clients, whom I bill monthly. For tax purposes, do I need a book keeper or an accountant for this? I still don't have a strong understanding on the difference between the two, I just know I need to pay quarterly tax estimates and am not sure who to go to about that.

  3. I specialize in digital marketing for local small businesses and meet with my clients face-to-face once a month. Two of my current clients have paid me in cash, is this okay or should I only be accepting electronic funds in the future? If I am allowed to accept cash, what kind of information do I need as an invoice? I have currently been using an online invoicing system called Due for my client that pays electronically, but what do I do about a client that wants to pay cash?

Any help that I can get as a new business owner/young adult would be GREATLY appreciated. Thank you so very much.


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