Investor · Member since 2023 · 118 posts · 61 votes
The QBO class tracking feature, found in the more expensive Plus and Advanced versions, is used by many investors. I’m wondering if using Customer instead of Class would work, thereby allowing the less expensive Simple Start or Essentials versions to be used.
As a private lender I’ve been using Customer for borrower and Job for each borrower loan … seems to work. I’m able to get a P&L by borrower/loan, among other reports. Perhaps a property investor could use Customer for each property.
I’m sure there are many QBO aficionados out there that have thought about this, what do you think?
Rental Property Investor · Jacksonville, FL · Member since 2024 · 50 posts · 43 votes
2y
Hey David, this is a great point! As a Quickbooks ProAdvisor, I spend a lot of time in the system. Based on my understanding of the Customer functionality in Quickbooks, I agree that for real estate investors who might want a more cost effective option can utilize the Customer features (available in the Simple Start and Essentials version) instead of classes.
Since reports are able to be displayed at a Customer level, you would be able to run individual reports for specific properties as well as whole company reports broken down by property.