So we run a business remodeling and flipping houses and the way we were using QBO before was when we had an expense come in we would classify it under the property that it was for which worked ok since we could see the expense on our P&L by class, but then came a need to see how much value was in a property on our balance sheet and that wasn't something we could easily do so we ended up categorizing them instead (eg: instead of category "Contractors" class "(the property address)" we created a category "(the property address)" with a sub category for each property of "Contractors" which worked great for the balance sheet but then the transactions didn't show on the P&L's since the property address categories and sub-categories were considered long term assets. We had a bookkeeper before that was able to report it in a split transaction somehow to allow for both reports to pull the information properly, but looking at the chart of accounts for those transactions leaves me scratching my head. How would I go about recording a purchase (for example) from Home Depot for Supplies and Materials for a flip property in a way that would allow me to see the transaction on both reports properly?
