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!
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!
Year end accounting can be a real nightmare...am I right!? In this video I show you how to make Year End journal entries to make sure your capital improvements are accounted for in the right way. This video follows up on the concepts discussed in Real Estate Accounting - Tracking Rehab Expenses (Part 1), where I introduced the concept of using Products and Services to track your rehab expenses in greater detail.
Enjoy...and please let me know what else you'd like to see me do in Quickbooks Online!