@john-pero Thank you so much to reply my post.

Very helpful the way you put it, how my fiscal year should start. Made me rethink how I am doing things, clearly I am doing wrong. 

Yes, we have been using excel with lack of information on how to keep our books.

I thought I should start when my first expense was made to each property and then at the end of each project in 2021 I would make AJE transferring from COGS to Assets and everything would be in 2021 Fiscal year.

I like to do things myself while I learn, perhaps I should seek help with my accountant to setup QBO. 

One Again thanks for your help.