CPanel/CentOS: Best way to go about setting up version control software

Quick info:
CPanel / Centos Server
Remote Dedicated Server
Ruby on Rails enabled for CPanel users
Jailed SSH support for specific users.
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I tried to get this setup and although I managed to get redmine working, it is unable to connect to the GIT repository I installed. I'm open to alternatives to both redmine and GIT. I have no problem starting from scratch in a different direction.

I did everything via root through SSH. However I'm wondering if maybe I should have done everything as a CPanel user with Ruby on Raid support and SSH access. Or whether there is a completely different way of doing it altogether.

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Me and my partner work remotely from different locations. This makes it difficult to keep track of eachothers work. We develop PHP applications.

Basically need someting that:
1. Allows us to commit files, to keep track of changes.
2. Makes it easy to create a changelog
3. Allows us to better organize bug reports and fixes/patches
4. Web based tracker system if possible

I've been struggling for months trying to find a solution, but most I have found deal with people working via a LAN of some sort and not remotely.

Can someone please point me to the right direction as to what I need to accomplish such a system. I truly am stumped when it comes to this.

Thank you in advance.

 

Someone suggested the following below. However my question is, if anyone knows:

Would I install trac by logging in jailed ssh cpanel user, or is this done by root? I think the problem with my current redmine/GIT combination is it was installed via root and there's a permissions problem since the git repository is in a cpanel user account.

So basically I'll log into WHM and install those 3 rpms listed... then install trac via cpanel user ssh.. or root?

I'm quite new to this, but I pick up pretty quickly. Thank you in advance for your reply.