Suggestions for custom income/expense accounts for accounting software
Most software (I use Buildium) comes with standard income/expense accounts. Are there any custom accounts or subcategories you would recommend for write-off purposes or just a general overview of a property at the end of the year? If anyone has some suggestions they use or have heard please share.
example: My accountant said to have a custom category for photography and closing gifts on my Realtor side of things so it is easier to know how much I spend per year on that. Another investor makes a subcategory for certain projects like Roofing so he knows what he spends on roofs per year.