I am a real estate developer. I buy lands and develop villas in it to sell it off. How to set up this process to keep a track of all the expenses and profits/sale?
My transaction business transactions are as such: 1. I buy land. (Expense). 2. I pay construction monies to build a villa on the land. (Expense). 3. I pay for accessories such as AC/KITCHEN/FURNITURES ETC. (Expense). 3. I sell the finished estate to a customer. (Income).