Accounts or Reports?

[GaryWilliams]

Hi All,

I need to set up a new QF account for a small property business (of 3 flats, all on rent). I have a business account (Lloyds) but occasionally make purchases from my personal current account or credit card account, so I’ll set up three accounts - Business, Current and CreditCard.

For the 3 flats, should I setup 3 accounts, one for each flat or setup each flat as a separate project?

What is best for the end of year reports for tax purposes, P&L, etc?

Cheers

Gary

[FaradayKeynes]

Just one account will do, you can record all income and expenses for 3 flats in one, end of year tax return just need total figures and number of properties