Quickbooks 2014

15 Replies

Does anyone have a good guide or book in setting up QB 2014 for landlords?

I cannot find anything other than landlordaccounting.com.  I just posted there to make sure it will work with 2014.

Thanks in advance,

Kevin

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Originally posted by @Kevin Galus:

Kevin,

Check Google, and Amazon - with keywords QuickBooks Property Management. You will surely find something.  What you should be looking for is how to use QuickBooks as a Property Management software and accounting software. Should be able to track lease dates, work orders, reports for each situation you can think off and more...

As to 2014 - is not much different than 2011 and onwards. 

Let me know if you have questions.

I don't know what version you have, but i just signed up for quick books online this week.  With the montly subscription you get unlimited support.  I had a very knowledgeable person spend a few hours on the phone with me helping me set up stuff and give me pointers.

Nancy Neville has one and I believe she posts on this site. Also Mike Butler has one. Just Google either. They may not be specifically for 2014, but there really is not that much difference from previous versions.

Also, if you are doing more than a couple of units, you want the Desktop Pro version, not the online. The online version has less useful features. You can easily manage several hundred units with the Pro with no need for any additional property management type software.

After about 500 units it's time for Yardi or something similar.

@Kevin Galus  

Mike Butler is the one I learned a lot from. He has 2 books of which I have both, one helps you set up your QuickBooks as a real estate investor and the other one is about setting up a separate QB file to manage your tenants. I have tweaked and changed a lot of things since first implementing it but it's a great place to start. I found this link for you

http://quickbooksforinvestors.com/

I would go with Nancy Neville"s book its only $99 and all the info you need to get you going. Where to input your properties/ tenants/ pay bills/ collect rents/ etcWhen you get more advanced and start owning more properties then I would suggest Mike Butlers package ($1,500) Little to pricey for me.

For those of you who have been trying to contact me, my husband had a heart attack and  therefore, I have been "retired" for a few months (didn't feel like doing too much).  However, I've found out that life has meaning and should go on, it helps to make the bad not so bad.

Nancy Neville

Here is one more... I just started to use this so I don't have a great way to compare other than what I have seen at BP. they do use properties as customers and tenants as jobs approach which is similiar to what landlordaccounting.com site uses. The book... and yes it is a physical book, not an e-book, is $45.

http://propertymanagerstechnology.com/

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Originally posted by @Steve Brown :

Well I got here at little late. I also found Mike Butler's system of using quickbooks very helpful, and good support. Check it out http://quickbooksforinvestors.com/

 Steve,

Did you try the video tutorial for $50?  

I"m a complete newbie to quickbooks and need a fast solution for tax prep for 2014.   Is it worth it to learn quickbooks?  I have 7 properties.  

Anyone try Mike Butler's video tutorial?

It is not the cost of the book, but the content and what you get out of it. You want someone to give you a solution for property management, accounting and at the same time eliminating excel sheets. This is what I tell everyone who call us or emails us:

-- See what other property management and real estate software offers. Make your own list. KEY is to know your business, what you need and why and how it is going to help you to increase your revenues.

-- Which reports you want to analyze for each property?

-- Do you use excel sheets - make a list - can you eliminate them?

-- How do you check your own data?

-- Make a list of reports you need - ask other real estate professionals, property management software and accounting, bookkeeping professionals. Will you be able to get it all from one package you purchase?

-- find someone whose is an expert. 

-- Look for someone where you can find a one stop shop. Ofcourse not all CPA, Accountants, tax experts are QuickBooks expert and vice versa.

After you purchase: What do you get from them: free consulting, software purchase (did you know Intuit compares big retail store prices? save time shopping around), QuickBooks updates, news, trips and tricks?

Here is a list what are usually asked about experience and qualifications: 

- -  QuickBooks certified how many years: (over 16 years)

--   Advanced Certified QuickBooks ProAdvisor since 19

--   Certified in QuickBooks (pro and premier) and Enterprise. Optional Online QuickBooks. More knowledge the better. Check out Intuit's website

--   Intuit Premier Reseller (appx 258 in USA) Check out Intuit's website

--   Knows more about property management for landlords and property management company for condo, residential, vacation  and commercial and more. 

A lesson learned: My other half Robin taught me you get what you pay for. 

Well I can list more but got to go. 

Happy Sunday going out to shovel snow!

I'd suggesting finding a local accountant, have them show you things once (like how to do a general journal entry for a new property).  Then all you have to do is replicate the transactions with different numbers each time.