quickbooks p&l and balance sheet reports

[George Rodriguez]

I currently have quickbooks premier and just started using it for my real estate flips. I previously was using excel sheets and plan to transfer to quickbooks. i would like to have the purchase price of the home also on the p&l report and the rehab expenses ( material, labor costs, utilitiy payments, paid property taxes ) on the balance sheet. I'm aware of using classes to identify the property. What account from the chart of accounts is the way to classify purchase price and rehab expenses to get the the data on both the p&l and balance sheet?