I keep the books (QB 2007) for our non-profit club, using the cash- basis accounting method I inherited. I entered the cost of building remodeling in our depreciation schedule, and plan to take first year depreciation using the straight-line mid-month method based on the date the improvements placed in service. But some of the bills for the remodeling were paid after the end of that fiscal year. How should I enter these transactions to properly account for the expenditures and first year depreciation? Thanks for your help.
Bill Bickner