If you're in the Rental Property Management game, your likely charging your tenants late fees. After all, you get charged late fees on your bills/ mortgage payments....your tenants should carry that burden as well! With Quickbooks Online's new "Late Fees" feature, we can now set up late fees to automatically get added to past due invoices. Check out this video where I break down exactly how to set this up!
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!)
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!
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!