Arthur, I'm in Perth WA, self employed in own business and was using Quickbooks 2002 to keep my records but much was in flux. I no longer have the ability to reinstall my QB and it's on an old XP 32bit machine so I thought it was time to upgrade, so to what? I suspect I've waited too long for QB because it might not be able to read my old files but I wanted complete control over my records rather than the current online in the cloud versions. I found Gnucash and my SIL is a bookkeeper anyway so engaged her to create me new set of custom books in Gnucash. She was already using it in Linux to do their own books. It seems to be working out ok. I am still running parallel QB until I am ready to jump over. I hope to be able to get more comprehensive reports on everything I do. My properties are half with a manager and half self managed which makes it harder. The manager gives me great detailed reports that I just use each year to compile but being with a property guru team I am reasonably educated on what can be claimed and what records to keep. As someone pointed out already, it's not just claimable allowances but also calculations for any renovations or improvements, calcs for CGT if you sell etc, Poor records and you could be paying thousands extra in tax. Yes you should have separate accounts too.
On Sat, May 14, 2022 at 11:21 AM Liz Dodd <[email protected]> wrote: > On Sat, 14 May 2022 02:31:52 +0000 (UTC) > arthur brogard via gnucash-user <[email protected]> wrote: > > > I and my ex jointly own four properties two of which are rented out. > > Thinking differently here, I see a red flag because there is an > unexplained relationship between the owners of the properties. I'd > suggest that these are kept in separate "books" and quite separate from > any of your personal accounts. > As already mentioned, excellent records are required to be sure that > all allowable deductions are received. > > Liz > _______________________________________________ > gnucash-user mailing list > [email protected] > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
