Yet Another Quickbooks Question

Yet Another Quickbooks Question

Albuquerque, NM · Member since 2018 · 16 posts · 3 votes

So I asked a "how to" question about 20 days ago. I got a few replies that pointed me toward a starting point. Nancy Neville was one reply, and was extremely gracious in accepting my apology after I insulted her. No, I wasn't drunk posting, I have no real excuse other than I am uninformed and frustrated. 

My situation is as follows:

  • I have one property just acquired that I will be self-managing.
  • I intend to purchase more properties, not quickly, that will likely be managed by a property manager. (Nancy's product page states property management is not supported.)
  • On a scale of 1-5, I'm about a 2 on Quickbooks expertise. I own a copy of 2015 QB Premier.
  • I learn best via a reference book, not video courses or learning modules. (Nor do I have the time for that.)
  • I want to get everything set up correctly now.
  • My budget is in the $100+ range, not $1000+.
  • Templates would be ideal - QB company file, chart of accounts, forms, etc.

So....... suggestions?

Thanks!

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  • Dick RosenPro Member
    Property Manager · Gilbert, AZ · Member since 2009 · 1k+ posts · 451 votes
    8y

    First I would recommend updating your QB to QB 2018 Pro. When you open a new file in QB it will go through a series of questions asking you what your needs will be. Managing Rental properties I believe is specifically mentioned and it builds a chart of accounts for you. 

    I am a PM myself, managing many doors but of those doors I own a handful as well. I send myself the same statements and reports on my properties that I send to all of my clients. I then plug all of those entries into QB to keep my books up to date. My CPA loves it and I've been audited by the IRS several times with not one issue, ever. 

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