Legal Question in Business Law in New Jersey

Re: invoice

You are discovering one of the biggest problems with suppliers. They mis-invoice, make mistakes in credits, and do the billing wrong. The result is countless hours of parperwork and lost employee time.

If your accounting records were set up appropriately,you should be able to track inventory. If you have problems with this, you need to review your computerized bookkeeping and cash register system.

Before you walk away from this hoping the obligation will just be with the LLC, the contract with the supplier should be reviewed for a personal guarantee. Also, your LLC books and records should be updated.

The smart thing to do is to talk to your tax and business attorney.

I hope this helps!

Ron Cappuccio

http://www.TaxEsq.com

Re: invoice

You should have a lawyer review your contract with the supplier. It is also possible that you could just close the business, but you need to watch out for any personal guarantees that you may have given.

My firm handles matters of this type, however it may be easier for you to work with a lawyer whose office is closer to you. (You did not give your Zip code. My firm is in Marlton.) If I can be of further help to you, call or email.

See also: http://info.corbettlaw.net/lawguru.htm