Property management is stressful unless of course, you have the Street Smart® course on Property Management… But accounting for your rental properties doesn’t have to be stressful. This manual is designed for people involved in the purchase, management, and tracking of rental homes or apartments. It will aid you in your understanding and application of QuickBooks for a real estate investment company.
What This Product Is
This manual was originally written for QuickBooks 2014 Pro. The principles are similar in newer versions of the program. Although some screens may look different, and there may be more or less functionality present. It is intended to aid you in evaluating QuickBooks and allowing you to get started using it for your residential real estate business.
Why You Might Want This Product
It will help you understand how a real estate rental business works and the associated
terminology. Ideally, you already either have your own corporate entity or be in the
process of forming one. It is essential for you to have a strong understanding of the
financials of your company, even if you hire a bookkeeper. We’ll help you learn them. Use
QuickBooks to enter data properly and you will be able to analyze your business, make
decisions using accurate financials, and save an enormous amount of time.
Suggestions For How to Approach This Manual
Ultimately, you are responsible for your own books. We highly recommend that you have your accountant look over the setup suggestions, and if you have not already done so, that you give QuickBooks a “trial run” early in the process. To ensure QuickBooks is configured optimally for your business, and that it will provide you with all information that you need, enter a small number of your routine transactions. Then try running all the reports you may eventually need.
What This Manual is Not
This manual is not a replacement for your accountant. The tax code runs 17,000 pages and contains a mind-boggling 5.5 million words. Please interview many accountants and choose a
competent one with extensive experience with QuickBooks and real estate business owners like yourself. Find them via your other investor friends, Yelp, and your professional contacts. When you’re ready to implement QuickBooks for your property management, make sure your accountant supports you and is familiar with the program. Most who deal with small businesses are, and may even offer you a discount for using QuickBooks. This manual is not a replacement for your attorney. Consult your attorney.
“Vey important to have complete system. Start and add parts as needed.”
“This is a completed system. A complete business in box.”
“As always Lou Brown delivers!!”
“Lou’s systems provided me with a solid foundation to buy my 1st property.”
“This will definitely improve grow and enhance our Real estate Business.”
“I have purchased other trainings and was left with missing pieces of the puzzle. Not with Lou. He truly cares about our success.“