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14 January 2025 | 8 replies
Buildim has a general ledger so you can record credit card transactions the same as in any other bookkeeping software 1- add to chart of accounts a current liability called for example capital one credit card2- when you want to record a credit card transaction go to general ledger create a journal entry, for example if you swiped your card for a maintenance expense in the amount of 1,000 youshould debit maintenance 1,000 and credit your liability account called capital one credit card for 1,000so your liability account balnce is always the same amount as your credit card balance 3- if you pay intrest on your credit card add to charts of accounts an expense account called capital one intrest fees and when you got charged intrest create a journal entry debiting capital one intrest expense account and crediting your liability account 4- to record a payment to your credit card you can record a check from your bank account payable to capital one you should add them as a vendor or you can do a journal entry It simple for anyone with a little bookeeping knowledge and btw thats how its also done in quickbooks or anywhere else And thats the correct way doing it although there are a few other workaround ways for exemple creating a contra asset or as paying a vendor So i dont know why you blame buildium it would be the same with any other software
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19 January 2025 | 9 replies
I started an automotive business on the thinnest of shoe-string budgets; way under capitalized.
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10 February 2025 | 16 replies
But for cashflow this is terrible.Comparatively speaking, I do see properties that need capital improvements.
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24 January 2025 | 21 replies
A mortgage lender can help determine if refinancing or tapping into equity might allow you to acquire additional properties.Consider a 1031 Exchange: If you're open to selling a current property, a 1031 exchange can defer capital gains taxes while enabling you to upgrade to a larger or more profitable asset.
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16 January 2025 | 19 replies
If the floating rate debt starts costing too much and there is no capital to replace a rate cap, reserves run out.
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12 January 2025 | 8 replies
Hello all,Has anyone sold a short term rental owned over a year as a non real estate professional that qualified as short term capital gains tax deductions with expenses and depreciation?
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8 January 2025 | 7 replies
This allows them to get more capital so they can make more loans without having to grow their asset base, while also maintaining their relationship with the customer through monthly payments.
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20 January 2025 | 62 replies
Our parent company is called Legions Capital, Inc.
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12 January 2025 | 8 replies
The local economy is anchored by institutions such as the University of New Mexico (UNM), Sandia National Laboratories, and Kirtland Air Force Base.
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26 February 2025 | 22 replies
At that point we would refinance to pull our capital back out.