Chart of Accounts for Rental Business

[Sven Simon]

Hi all,

I got all my accounting in QuickBooks. I own a rental property but I'm also currently looking to start flipping properties.

I have a good grasp on accounting and set up a chart of accounts and everything else. As it's year-end, I'm reviewing a few things and feel that I should adjust a few accounts. I'm a perfectionist :)

I'm clear on what accounts and account types are needed for the flipping side of the business. However, I'm going back and forth on the rental side of the business (particularly in regards to what accounts should be Cost of Services accounts vs. Expenses). In the big picture, it won't make much of a difference as I'm still categorizing everything by property.

Does anybody mind sharing a solid chart of accounts for a property rental business (or one that does both - renting and flipping).

Thank you in advance!

#HappyNewYear

Sven