All Forum Posts by: Mike R.

@Brett Jones I have the same question. FB doesn't seem to give you the option of posting a rental to Marketplace from a FB business page.

Thank you, @Ned Carey and @Mary M.! I will give that a try.

Hi all,

Repeating this post from August, as I am still looking for a solution. Surely I'm not the only buy-and-hold investor who wants to use QB to figure out how each property is cash flowing. Here's the original post:  

I am having trouble figuring out which report in Quickbooks I can run that will tell me what my cash flow is for each property. Profit and Loss by Class lists my revenues and expenses but of course does NOT include principal payments and capital expenditures. I want a report that will tell me what I was actually able to put in my pocket from each property -- revenues less ALL expenses including principal and CapEx. I know I can do this by hand but I have to be missing something. BTW each property is set up as its own Class. Thank you!

Mike

Hi all,

I am having trouble figuring out which report in Quickbooks I can run that will tell me what by cash flow is for each property. Profit and Loss by Class lists my revenues and expenses but of course does NOT include principal payments and capital expenditures. I want a report that will tell me what I was actually able to put in my pocket from each property -- revenues less ALL expenses including principal and CapEx. I know I can do this by hand but I have to be missing something. BTW each property is set up as its own Class. Thank you!

Mike

@Gita Faust OK now that's just weird. Earlier today I happened to be on your website. Tonight I log into BP and see you replied to my post. WEIRD!! Lol.

Not sure I understand what you are suggesting. You are correct about what took place in 2017. When this happened, I had no idea that insurance would reimburse me. So in 2017 I recorded the $2,900 check I wrote to the plumbing company as a capital improvement (Account > Fixed Asset > Waterline). I then recorded the $490 check to the sidewalk guy as a repair expense. Are you saying I should stick with that? 

I'm baffled about how I should record the $2,890 insurance check in 2018. Are you saying I should record a $2,890 deposit in my QB checking account register, with $2,472.27 appropriated to Account > Fixed Asset > Waterline and $417.73 as a repair expense? How can I do that if I already recorded the $490 as a repair expense? And why the odd totals?

Thank you, Gita!

Great job @Ross Miller. Looks like a great turnout already!

@Ross Miller thanks for reaching out to the BH agent. Did you hear back from her? If not, maybe a restaurant would work best. Roman Delight has a private room.

I'm in Orwigsburg too. The meetup at Re/Max in Wyomissing is awesome and so is the organizer. HOWEVER ... I'd love to get something going for those of us in southern Schuylkill County, @Ross Miller. I feel like I'm on an island here and it's nice to know there are other investors working locally. Let's do it!

Forgot I had asked this question, lol. Thanks so much for the reply @Dan V.!

Accounting/quickbooks question. The waterline broke between my rental property and the street. I paid $2900 for a new waterline and $490 to redo the sidewalk for a total of $2390. I recorded the waterline as a capital improvement (fixed asset in quickbooks) and the sidewalk as a repair. All this took place in October. I submitted an insurance claim and this month (January 2018) I received a check for $2890 ($2390 total loss less $500 deductible). How do I record the insurance proceeds and deductible in quickbooks and how does that impact or interact with my entries from October? I assume I'll need to add some categories and do a general journal entry. Thanks in advance!