Hello! New to any kind of forums. I am doing accounting for a General Contractor who builds 3 to 4 single family homes a year for homeowners with their own funds and I don't know how to go about keeping track of bills from the subcontractors or supply companies. I would like to enter them into QB, but most of them are being compensated from the Title company and the construction loan is the homeowner's, not the GC's. So I only enter my GC's direct expenses. With that there are a couple of issues I have:
*I lose track of whom I owe and how much, etc. especially when there are a few projects going on
*I don't have the idea of the current total expense, unless I add QB GC expenses and the title company pay outs manually, e.g. in excel which I have to update whenever there are new expenses, which is even a greater hassle and I am never sure if I entered/retyped everything from QB, and I have to do it for every house, but it doesn't make sense, because I need the total cost information to be available at least weekly, and it looks that I am doing the work twice for each project and the only info I am sure about is the one that I have in my QB, not the combination of QB and manual entry. Any suggestions will be appreciated.