Using Quickbooks (by George Eckenrode [FL]) Mar 28, 2018 11:04 AM
Using Quickbooks (by Sisco [MO]) Mar 28, 2018 12:08 PM
Using Quickbooks (by NC INVESTOR [NC]) Mar 28, 2018 1:23 PM
Using Quickbooks (by myob [GA]) Mar 28, 2018 2:50 PM
Using Quickbooks (by George Eckenrode [FL]) Posted on: Mar 28, 2018 11:04 AM Message:
State Specific Question About: FLORIDA (FL)
Has anyone perfected the use of Quickbooks for recording payments, collections etc. with rentals ? Then the export to Turbo Tax for tax reasons. I would sure like to know some "tricks" as to how to use Quickbooks for Properties and rentals. Thanks --108.161.xxx.xx |
Using Quickbooks (by Sisco [MO]) Posted on: Mar 28, 2018 12:08 PM Message:
George, I have used qb more than 20 years. I don't utilize nearly all of its capabilities. As for "tricks", I recommend that you put forth some serious thought and effort for you chart of accounts....basically, decide precisely what you will name the types of transactions that you encounter.
Lots of support exists, many online videos, and community colleges are always giving courses.
--72.172.xxx.xx |
Using Quickbooks (by NC INVESTOR [NC]) Posted on: Mar 28, 2018 1:23 PM Message:
I've been using QB's for 20 years but didn't start using it for rental until 06. Properties in QB is very different that just about every other business that I've ever had.
I have always used an accountant but setting the books up is just the beginning. Knowing how do certain posting, handling NSF, depreciation, etc. is something you need to understand.
When I first started in rentals I bought a book called Landlord Accounting. It has the setup for pretty much everything you will encounter and will walk you through many of the steps in how to maintain your books. The one area I found lacking though was long term fixed asset with depreciation sub-accounts. I bought John Hyre's QB for investors book is very detailed for fixed assets and some other areas but it does not go in to the day to day tasks.
If I were you I would minimally start with LL Acct for setup. Intuit user forum is a great resource once you have some basic idea. --71.75.xx.xx |
Using Quickbooks (by myob [GA]) Posted on: Mar 28, 2018 2:50 PM Message:
don't use the guide that comes with the program. Unless you've already plotted out how your going to live flying to Mars and back and have the time to decipher the booklet.
Get the thick Quicken Book from Amazon. go to the chapter on rental properties. Go to your tax return and look at the line items for form 8825 and set up in same manner.
Setting up catagpoys and splits are a LITTLE hard but well worth studying up on. --99.103.xxx.xxx |
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