Hi All,
I’ve recently bought an RV park and it’s bookkeeping challenges are different than MHP’s due to the transient nature of the tenants and revenue being treated as deposits until the client stays at the park. Does anyone have any bookkeeping experience they can lend? I have a controller who is using GAAP accounting but this shows all deposits as expenses until they are actualized by the client staying at the campground. Most people book months in advance and pay in advance, so trying to decide how to categorize the revenue…cash basis or accrual basis. Would love for anyone to share how they are doing bookkeeping for their RV park. Thanks!
Danny