We are implementing QBO into our house flipping business. We have been operating for few years now, but I am only adding information for the current fiscal year(2021). Since, I am adding a property that was sold this year but the Rehab work started in 2020. I set my opening balance on the first expense made on this property, which was Sept 1, 2020. Now, I am running into transaction from the previous fiscal year, like a payment from couple houses we sold towards the end of 2020.

I am not sure who to record those transactions. Example, my checking account will have a check for $ 180.000, but I don't think I should record as sales of the property, which is not on quickbooks, or if I should just add as owner investment. Kind of confused here.

Any help, would be appreciated.

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