It's time to settle the ongoing Quickbooks/ Real Estate debate! How do you separate project-specific reporting? By customer or by class? Here I discuss the pros and cons of each strategy while ultimately delivering my personal recommendation... (Hint....the customer is always right!)
In direct response to an audience question (thanks Andy from TX!), here’s a step by step guide for setting up Quickbooks Online to track your rehabs. Learn how to set up your Chart of Accounts, utilize “Projects” and ultimately track your construction expenses!
The most common question regarding REI accounting: “How to translate an HUD?” Here it is! A step by step guide to recording the purchase of property!
We all love QBO to manage our rental business. The best part is getting paid! This video demonstrates how to properly account for these rental payments to keep your business organized and your cashflow humming!
One of the major frustrations associated with Quickbooks Online is the inability to handle multiple businesses. Technically, you would need separate subscriptions for each business. This can be very frustrating for those of us with multiple businesses....all of which do similar things. I've come up with a workaround using QBO "Location Tracking"....check it out here!
So many of our businesses are run off of repeatable processes and checklists. We’ve come up with a really cool way to automate this with Podio and Globiflow. Want to give it a try? Get in touch and we can talk about getting this exact framework into your workspace!
Quickbooks Online is an amazing tool for tracking the financials of your Property Management business. But QBO falls short in many other operational areas. Workflow automation software like Podio can help to fill in these gaps. This video demonstrates how to integrate Podio with QBO. As you can imagine, the possibilities are endless with an integration this powerful. Stay tuned for additional use cases as to how we can leverage the powerful functionality of many different Property Mgmt Software services!
Perhaps the most crucial role of any property manager is corresponding with and collecting rent from tenants. Quickbooks Online has amazing accounts receivable functionality built right in! In this video, I'll show you how I use QBO to track my tenant rent balances, add late fees and send reminders.
Update: Audio has been fixed. Enjoy watching!
Reduce time preparing your taxes...set up your chart of accounts to map directly to your IRS forms! Check out this demo where I show you how to establish your COA for Rental Property Management!