I'm stressing out, I need to learn accounting!
I feel that my old fashioned way of tracking expenses needs to come to an end. I just put things in a spreadsheet and hand it over to my accountant.
However, I don't track a lot of things, like deposits that I get returned, loan proceeds, and other deposits into my account that the IRS might questions, even though they are legitimately not income. I'm getting worried that I won't be able to figure out what some of these deposits are years later if I get audited.
I have 17 rental units, and I flip some properties throughout the year. I make a lot of deposits on houses that I don't get, and I constantly have money going back and forth even if it isn't producing income.
SO MY QUESTION IS: Will Quickbooks do what I need it to do? I am clueless about what it even does. I was thinking about buying quickbooks 2012 for mac, since there arent many other big name programs for mac. What are your thoughts?
I need to FEEL organized, or I get stressed!