Investor · Bellefonte, PA · Member since 2008 · 1k+ posts · 88 votes
I was wondering if anyone had any sugesstions on how to generate a rent roll report in quickbooks?
I have my tenants set up as customers and my invoicing is set up that each property is an item and each unit in each property is a sub item of that property.
I'd like to make a report so that I can see how much each tenant paid for each month. But when there is a tenant turn over I'd like to see the new tenants name in that same column.
Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
12y
I just figured out a simple way: reports / customers and rec'b./custo balance detail - then select "this month", modify, deselect "amount" and select "debit" and "credit" and there it is. You can export to excel and remove any weird stuff that comes up. I have heard there's a way to get security deposit to show up too...working on that now ...
Property Manager · Riverside, CA · Member since 2008 · 12 posts · 0 votes
18y
Michael ~
Did you ever get your questions answered?
In addition to our property preservation field service business, I also own a bookkeeping business and have investors as clients.
This is how I have them set up:
Use the property address for the customer, then add each tenant under the primary "customer" as a job. Each time a tenant moves out, inactivate them and add the new tenant as another job.
Doing this will give you a tenant [and repair] history of each unit at each property and keep your customer list from being 2 miles long.
For apartment units, add a job for each unit under the main property address, then add each tenant as a separate job under the unit number.
It will look something like this:
Customer Name: 123 Main Street
Unit A
Current Tenant's Name
Unit B
Current Tenant's Name
Unit C
Current Tenant's Name
When you invoice, start typing the tenant's name and all the information will fill itself in.
Use Rent as the Item and attribute it to Rental Income. Use Security as the item for deposits [first, last, security, pet, etc.] and attribute it to a Security Deposit Equity account. Doing it this way will keep all the deposits in a separate register so you can always see what the balance is.
When you do the first invoice, select Edit, then memorize the invoice and fill-in the boxes you need to, in order to have the invoice pop up automatically every month. If you set them to appear 5 days before the first of the month, they'll be available to print before you need them. Plus, your accounts receivable report will be ready by the end of the month, too.
Does that help answer your question regarding tenant set up in Quickbooks? If you need help applying payments to invoices, posting damages and repair costs to a particular property, unit, or tenant just let me know. I do this all the time and will be more than happy to walk you through it.
Accountant · Richboro - Philadelphia, PA · Member since 2008 · 901 posts · 246 votes
18y
Here is one way to track rent-roll in QuickBooks for property owners and property managers:
-Edit customer
-click on additional info
-click on Define Fields
-Enter Rent
-Select Customers
Click OK 2 times
Go to Reports:
-Customers
-view Customers Contact List
- Modify Report
- on the bottom left - scroll down
-select rent
-click on Header/Footer - change the title to read Rent Roll
-click OK
-name it as Rent Roll Report
-Click on Memorize report
Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
12y
I have clients setup as "jobs" and buildings as "customers" per usual. But I have NEVER used invoices. I know Quickbooks LOVES you to use invoices, but most (non commercial) clients HATE them and I hate them. I love the "checkbook-like" look of a register. So I use statement entry vs. invoices. Which means my payments never really get attributed properly, but it's quicker than pen and calculator and so it goes..
Can someone NOT using invoices create a semblence of "rent roll?" I have potential investors that always ask for a rent roll and it would be nice to be able to quickly spit one out.
Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
12y
I just figured out a simple way: reports / customers and rec'b./custo balance detail - then select "this month", modify, deselect "amount" and select "debit" and "credit" and there it is. You can export to excel and remove any weird stuff that comes up. I have heard there's a way to get security deposit to show up too...working on that now ...
Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
12y
Gita,
Is there a simple way to include SD and rent in one report? I suppose you could just go to town with those "defined fields" and create report using those?
Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
12y
Hey, that brings me to a neat idea. I could probably put move in date, security, rent, pet fees, # times late, things like that in defined fields and create a REALLY robust report, no? I'll play around with it and see what I can come up. @Gita Faust , any hints in the right direction would be greatly appreciated
Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
12y
It does work! You can also have the "contact list" contain "balance" - so you can have the user defined field show up for "rent" and also their balance as well so you get a "true-ish" rent roll. You can also have SD column, move in, etc. The only thing I don't like is that my buildings are "customers" and my tenants "jobs" so I end up having a list that includes each building also, so it will read like
17 Boutelle
17Boutelle: tenant 1
17 Boutelle: tenant 2
169 Silver St.
169 Silver St: tenant 1
etc.
I'd like to get rid of the "empty customer" and just have the jobs show up. I can use "selected accounts" and pick all the tenants but I want this to be very automated ... tenants will change and I'd like this report to keep up automatically. Any thoughts??