QuickBooks allows you to keep track of all the income you make per property. It keeps track of all the expenses you dished out per property as well, and then gives you your bottom line.
All you do is click on a button, select the property, choose what day you want to see your Profit and Loss per property, (any time of the day or night) and in a blink of an eye, QuickBooks creates it for you. Print out the Profit and Loss Report just created for you, and view it or take it with you to the bank if you need proof of your properties and your bottom line. (At the end of the year you would print out this Profit and Loss Report and give it to your CPA)
You can Customize QuickBooks to tell you whatever you want to know and have it show up on Invoices, and forms as well.
For instance I have the following data created for every single tenant I have and I have it show up on all the forms I utilize for each individual tenant. The data is as follows:
- Rental Amount,
- Security Deposit,
- Date moved in,
- Type of Lease,
- When Lease Expires, (And I can have QuickBooks remind me when it is about to expire.
- And...Move out Date
For each property I own, I list it in the Fixed Asset Feature of QuickBooks and I customize that as well to tell me the following:
- The year of the house,
- type of house,
- where located,
- property description,
- price I paid,
- or sold it for,
- taxes,
- and so much more.
With just a click of a mouse key here and there I can find out everything I need to know about my properties will show up for me just like that!
I can memorize my invoices that I have created for my tenants for rent that is due to be created by QuickBooks automatically for me every month. All I have to do is press a key on my keyboard and print it out.
There is nothing that I can't keep track of regarding my business in QuickBooks and It just doesn't get any better than that!
Nancy Neville