Landlord Vision Software
I am trying to teach myself to use Landlord Vision Software which RLA partners with. I wonder if there are any users out there who can help with the following.
Recording the Sale of a Property
- I originally set the property up as an asset
- On sale of the property I posted Income into the property manager module with an item description of Property Sale.
- This resulted in the sold property remaining as an asset, but with a negative balance, akin to the capital gain on the original cost, not taking into account purchase costs and sales costs.
What I would have expected is the asset to set to NIL and the gain to be picked up elsewhere but not as a gain in the PL but as a capital gain.
If this makes sense to anyone I would really appreciate some clarity and help.
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