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Updated almost 2 years ago,
Rental Accounting Question
Good morning BP
Im attempting to keep accounting for our first SFH rental. We acquired the property oct 6th and have performed some repairs. The problem im having is the money we leveraged for property purchase and repairs was deposited into my personal account because we did not yet have our LLC bank account.
Following this, we have been using our LLC account for expenses and rent.
Any recommendation as to how i should account for these transactions not from our LLC bank account?
Thank you for any advice.