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How to Setup Mortgage Escrow in Quickbooks Online

Uncategorized Sep 29, 2023
 

Many mortgages require that you pay a monthly amount toward Tax & Insurance every month. Check out this super simple method for recording these escrow payments as well as the payments coming out of the escrow account

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QB Online for RE Investors - Purchase Property with Financing

Uncategorized Sep 15, 2023
 

Following up on the Cash purchase, this video demonstrates how to purchase a property with financing. Specifically, we'll hit

  1. Capture the Loan as a LT Liability
  2. Differentiate loan costs from closing costs
  3. Fund the Tax & Insurance Escrow Account
  4. How to deal w/ Construction Escrow 5. Adding in Private/ hard Money Loans

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QB Online for RE Investors - Purchase Property with Cash

Uncategorized Sep 15, 2023
 

Let's get back to basics with a quick-hitting demonstration on how to record the purchase or property in QBO.

  1. Generic Chart of Accounts
  2. Record the Purchase Deposit Ahead of Time
  3. Differentiate between Capitalized and Expensed Closing Costs

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How to Move Payroll Costs to Cost of Goods Sold (COGS)

Uncategorized Aug 25, 2023
 

By default, QBO will categorize all your payroll costs as Expenses. But what about the labor that we sell to our customers? We should be accounting for that as Cost of Goods Sold. Check out my super quick trick to move a portion of monthly payroll costs from Expenses to COGS

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How to Super-Power your Building Business with QB Online

Uncategorized Aug 11, 2023
 
QBO is not just for Taxes! Use it to super-power your business! This video will demonstrate:
  1. The difference between Markup and Margin (and why most get it wrong)
  2. The power of cost Codes
  3. Projects, Classes or Both?
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How to Master your Cashflow Projection with Google Sheets

accounting Jul 01, 2023
 

Forecast and analyze your cashflow with this simple but powerful Cashflow Forecast template. Download the free template here: https://www.incomedigs.com/cashflowtemplate

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Super Simple Guide to Importing Renovation Cost Codes to Quickbooks Online

Uncategorized Jun 23, 2023
 

Save a ton of time by importing your Cost Codes into Quickbooks Online. If you are in the building industry (flipping, renovating, building), you need to track expenses by Cost Codes. Check out my super easy demo on how to get these codes into QBO QUICK!

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The Ultimate Amortization Calculator: Step-by-Step Guide for Investors

Uncategorized Jun 16, 2023
 

Real Estate loans always come with an amortization calculator. This video dissects the calculator as I show you step-by-step how to create and customize a loan amortization schedule in Google Sheets or Excel. Download the free template here: http://bit.ly/amortizationcalc

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Quickbooks for Contractors: Why You Need to Use Products & Services

Uncategorized May 18, 2023
 

One of the most underutilized features of Quickbooks Online is Products/ Services. In this video, I demonstrate why you MUST be using Products/ Services for your construction business.

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ClickUp Automations - Super Power your CRM

Uncategorized Apr 21, 2023
 

ClickUp automations are super powerful and really easy to use. Check out how I use some simple automations to super power my CRM.

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