Setting up chart of accounts in buildium
Hi,
Expanding into PM from RE and will be using Buildium. I am trying to set the chart of accounts up so I can run the books for both the RE and PM side of the business through Buildium. For those that are doing this (or something similar), what is the best option:
1-Use general accounts as parent accounts, and then set up a subaccount for both the PM and RE side.
Example:
Advertising Expense (parent account)
-Advertising PM (sub account)
-Advertising RE (sub account)
2- Or, set up 2 parent accounts as PM and RE, and then build out the subaccounts under those two parent accounts. I think this option would be the most logical, but what I don't like is that you can only use 1 subaccount. For example, Advertising could not have additional subcategories of Print and Digital Advertising.
Thanks for the advise.
Ben