Hi all;
I am the co-owner of some vacation property. There are five officially incorporated owners. Our secretary keeps all the corp. finances in a separate accounting package.
My question is... How should I categorize my regular monthly payments to the corporate entity? This is not rental property. It is for the exclusive use of the owners, family and friends (sort of like a time share).
Should I keep a separate data file for my payments and balance or leave that to the secretary? He does send out regular statements.
Any help would be appreciated.