IM HAVING A HARD TIME FIGURING OUT HOW TO CORRECTLY SET UP SOMETHING THAT WAS FREE MONEY AND LAND. WE ARE A INSTRUMENTALITY OF THE CITY(IRS CLASSIFIES AS GROUP SUBORDINATE). WE WERE GIVEN RIGHTS TO TAX-FREE LAND IN HOPES OF SELLING TO GET BACK ON OUR PROPERTY TAX ROLLS WITHOUT PAYING PROPERTY TAX WHILE VACANT LAND SITS. NO SYSTEM HAS EVER BEEN IN PLACE AND IN ORDER FOR OUTSIDE FUNDS WE MUST FIGURE IT OUT.
I MUST KEEP TRACK OF EVERY EXPENSE PER LOT YEAR AFTER YEAR UNTIL LOT SOLD. WE HAVE A SET PRICE PER LOT THAT WE DONT CHANGE YEAR AFTER YEAR AND ONE BANK ACCOUNT THAT RECEIVED FREE FUNDS FROM A BANK YEARS AGO. IN GENERAL, WE SELL PROPERTY AT ANY PRICE SO WE ALWAYS LOSE. HOW DO I SET SOMETHING UP TO CAPTURE EACH EXPENSE FOR SPECIFIC LOT THAT ROLLS OVER AND CONTINUES TO CUMULATE UNTIL WE SELL IT?
USER-FRIENDLY FINAL REPORTS IS SOMETHING COMMISSIONERS NEED. ANYONE ABLE TO GIVE ME QUICK RUNDOWN? I DONT HAVE TAXES TO WORRY ABOUT AND NO REAL EMPLOYEES TO TRACK. EVERYTHING IS INVOICED TO US AND WE CHECK IT OUT. iTS THE SMALLEST BUSINESS POSSIBLE BUT DOESNT WORK LIKE NORMAL ACCOUNTING TEACHES ME. THANKS A BUNCH
Please don’t type in CAPITALS, that is seen as shouting at the reader, so please change your post to upper & lower case, thanks.
Use 
.
Activate that under 
then go to 
>> Chart of accounts and on the Balance Sheet create a control account made up of Special Account.
Then go to the Special Accounts tab and create an account for each lot
Read this Guide on Special Accounts Manager Guides
sorry, i was going between here and journaling headings i forgot to take it off or even look up:slight_smile:
thanks