And I guess there is also a 4th “unofficial” type of management, but we didn’t want to make things too confusing. It’s simply an LLC that has both internal and external Managers. Download this Consultant Timesheet Template that’s designed to account for time that a consultant would spend on any project that requires a consultant and/or contractor. This timesheet will account for the hours that are spent with or without the client present. This will also serve as a record for the time served on any consulting project and could be used to provide to the client as an invoice as well. An LLC operating agreement allows you to set your own business policies, rather than being subject to your state's default LLC laws. You can create a management structure that works best for your business, and if any questions arise, you'll be able to refer to this written record. To pay or provide for the payment of all Company liabilities to creditors other than Members, and liquidating expenses and obligations;. The amendment number, in addition to the effective dates selected, chronologically tracks the order of changes and developments in your LLC's operating agreement. If this is the first time you are amending the operating agreement, then select "1" for the amendment number.