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Updated 4 months ago,
Question: ledger vs cash journal
We just converted our first income property from an Airbnb to a long term furnished rental. I want to make sure I’m keeping up with appropriate record keeping but with only one property, I’m not sure how to format a cash journal? I see that a ledger is provided by the RentRedi softwhere, which is awesome, but I was wondering if anyone had insight in if I need to set up a separate cash journal and if so, what is important to include and how should it be formatted?
I appreciate any guidance you can provide, thank you so much!