This attitude was adopted way before computers and accounting software was available, so since the adoption of GAAP is now at such a low level and at a lower barrier to the use of a decent accounting system, I'd suspect any IRS examiner will not be happy looking through your shoe boxes that are color coded as your system.I suggest you get with a bookkeeper who can help with a "chart of accounts" for your business, get an accounting program and set up your system.It will pay you to become familiar with basic accounting and the concept of expenses, depreciation, income, assets and net worth.

Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

Trying to find an experienced accountant that can provide some bookkeeping advice..running out of time for this year but I want to be able to set up things right in quickbooks before I do hand over to accountant.

Further, and this is my soapbox, it's NOT my job as title/escrow officer or company to do your bookkeeping.

Apparently CPAs and bookkeepers are not the same thing.

None of us keep perfect records, and most of us sometimes just pull a number out of the air because we're always short on time, need to run the business, and don't have an army of bookkeepers to keep everything straight.

@Melanie Fairchild I use Bookkeeping and More.  

Hey Gang,My book keeper just retired and the person she referred me to is not very well versed in REI.  

So unless the bookkeeper / accountant does the segregation, you are stuck with the longest period.Also, as an investor in a group, you do not get to claim depreciation directly / separately.

However it sounds like it is going into the plan and the immediate transfer to the Roth is your bookkeeping approach which  seems antiquated today.