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Updated about 7 years ago,
Help setting up my books
I am really struggling with keeping books... or really setting them up as a DIY rehab and hold investor.
When I buy multiple things on a reciept I don't know how to entet different amounts into what category.
example: Buy paint, a tool, and all the supplies to put on a roof on the same reciept.
I assume all the material for the roof goes together but in what category? How do I separate it for depreciation? or do I not and if not, how to I put it into my books as part of the cost of the house and rehab to get it rent ready? does it depreciate out at a different rate than the house?
Does anyone use a good book keeper on line that I could pay to set it up and occasionally use? I definitely want to understand it but I also am going to get overwhelmed working on multiple properties at the same time DIY and trying to do the books.