November 13, 2017 at 10:22 pm #119105
I have rentals homes and mini mobile homes, rv spaces and lodging.
I know that each home is treated separately, but the RV Park which has the mini mobile homes, lodging and rv spaces is grouped as one for tax purposes. All the examples used in Quickbooks show sales or work. I cannot find samples of rental property organization,November 13, 2017 at 10:34 pm #119809
I’m not sure which version of QuickBooks you are using but I prefer using QuickBooks Desktop over QuickBooks Online for property management businesses. When you set up the company file in QBD, Rental is listed as one of the industry types that you can select. Set each property up as a customer and then set up the tenants within each property as jobs. While you can probably use QBO to manage your rental properties, it’s not as straightforward as it is to use the desktop version. If you decide to use QuickBooks Online, you might want to seek the help of a QuickBooks Proadvisor. Check out this article which offers you 4 ways to find one: https://fitsmallbusiness.com/how-to-find-a-quickbooks-proadvisor/.
Be sure to check out our free QuickBooks Online Course: https://fitsmallbusiness.com/free-quickbooks-online-tutorials/.
All the Best-