I started out in business with college classmate of mine. He ran the tree work part of our company while I did the landscaping. It was a DBA ('doing business as...' partnership. We had 3-4 employees at that time and were fully insured for liability, equipment and labor. We did not have work comp on ourselves but did have disability and life insurance for each of us with each of us being the beneficiary for the other in the case of the life insurance (we were both single with no dependents).
Eventually, I 'bought my partner out' because we had different visions for the company (I wanted to grow - he liked working only 40 hours a week). The snag we ran into is that the business, after only 3 years, didn't have any purchase value built into it yet. In other words, he thought I should pay him several thousand dollars for the effort he put into building the business the first three years and took little pay to do it. I agreed but, had no money to pay him and still owed a great deal of debt to our bank. Upon advice from our accountant, I bought him out for $1. He wasn't thrilled about it but agreed and moved on.
I wish we would have had a 'pre-nup' for the business before we got heavily into it so that each partner knew how a buyout would be handled if that should occur. Just something to consider even if you think today that you 3 will always be in business together. People change and mindsets change. As you just told us, job status changes too!
I agree with everyone about getting an accountant or bookkeeper set up. Try to find one that uses Quickbooks and can set you up to do the majority of your bookkeeping yourself. I only use my accountant for taxes and equipment depreciation. All bills, invoicing, payroll, etc is pretty easy to do youself once you know how to use the software.
Also, do you guys have an agreement set up as to who will do the bookkeeping, who will do the equipment maintenance and who will do the sales? I suggest you each take on one of these responsibilities rather than everyone trying to do everything. JMO.
Good luck.