QuickBooks Desktop (And Enterprise) For Landlords

Learn how landlords use QuickBooks desktop to organize tenant and deposit records, generate per-unit profit and loss, and manage the general ledger with reports and special transactions.

Create a landlord's QuickBooks desktop company file to manage income and expenses for multiple properties in one LLC, then locate it with F2 and edit details in My Company.

Open the preferences window to set defaults and enable landlord-relevant features, including auto-refreshing reports, direct tenant deposits to the bank, and remove date warnings.

Customize quickly navigable shortcuts in QuickBooks desktop by refining the icon bar, adding key windows like receive payments, create invoice, and journal, and tailoring trial balance reports for landlords.

Learn to manage a landlord's chart of accounts in QuickBooks by deleting, making accounts inactive, and adding accounts with correct types.

Create a 'late fees' item linked to the income from late fees account in QuickBooks to track late fees separately from rent on tenant invoices.

Learn to manage tenant data in QuickBooks by setting up buildings and tenants in the customer center, and tailor tenant balance detail and profit and loss by tenant reports.

Learn to customize QuickBooks receipts by converting a credit memo into a rent receipt, rename the template, and save a dedicated rent receipt template.

Record payments in QuickBooks to update cash and unearned rental income, adjust the trial balance and tenant balance detail, and fix mistakes by editing transactions from reports.

Record rent as earned by creating invoices in QuickBooks, updating earned and unearned rental income, and reflecting changes in the trial balance and tenant records.

Learn how to manage late paying tenants in QuickBooks desktop by creating a rent receivable as an accounts receivable, separating it from unearned rent, and recording invoices and payments.

Apply the enterprise update to post tenant prepaids to a current liability account from the accounts receivable pull-down, ensuring correct balance sheet placement and preserving trial balance credits.

Learn to automate end of month rent invoices in QuickBooks Desktop using memorized transactions to schedule automatic entries for tenants.

Adjust rent receivable and unearned rent in QuickBooks Desktop by reviewing tenant balances and converting negative balances to unearned rent and positive balances to rent receivable.

Add a late fee item to tenant invoices and record it in the income from late fees to see how balances and the trial balance update.

Learn to manage vendor data in QuickBooks by adding multiple vendors from Excel, customizing columns to match your sheet, and pasting data into the vendor center for quick updates.

Track profit and loss by tenant in QuickBooks Desktop for landlords by recording expenses with checks and assigning them to tenants to see tenant-level income, late fees, and net profit.

Learn how to bill tenants for expenses in QuickBooks Desktop and Enterprise by marking checks as billable, invoicing tenants, and tracking the impact on the tenant balance and profit.

Delete transactions in QuickBooks using the delete command. Know deletions are permanent, with missing journal numbers indicating removed entries, and use the voided deleted transaction detail report to verify.

Practice this QuickBooks exercise to reinforce landlord accounting: input 15 tenant transactions, verify the trial balance and results, and fix mistakes.

Learn to set up QuickBooks file for security deposits, create an accounts receivable for deposits, and generate per-tenant reports for security deposits and rent balances.

Learn how to record security deposits and rent in QuickBooks Desktop for landlords, including handling separate or combined checks, and updating unearned rent and security deposits payable.

Apply security deposits to expenses by issuing a separate invoice with the security deposits payable account, marking the cost as billable to the tenant and deducting from the deposit.

Learn how to refund tenants moving out by issuing checks from the correct accounts (for security deposits payable or unearned rent) and creating invoices for unearned rent.

Learn to bill tenants for shared utilities by linking a rent item to the electricity expense, applying it to monthly invoices, and updating the trial balance.

Learn to bill mobile home tenants for electricity using electric costs payable, invoice with a flat fee and usage charge linked to that liability, and pay the electric company.

Practice the second transaction set in QuickBooks Desktop for landlords. Enter transactions as shown, verify starting and ending trial balances, and generate tenant and security deposit reports.

Learn to set up and track lease contracts in QuickBooks desktop and enterprise by using estimates, progress invoicing, and customized reports to monitor financial progress, percent complete, and months remaining.

Record and manage lease transactions in QuickBooks by creating the lease document, attaching the contract, and invoicing monthly to update percent progress on leases.

Choose between invoicing from estimates or automating invoices with memorized transactions, then use a custom report to track lease percent progress and filter by tenant (export to Excel if needed).

Learn to manage rent collection and expense payments using a separate property management company in QuickBooks Desktop, including undeposited funds, deposits, and management fees.

Learn to flip properties by purchasing with a mortgage, record the down payment and building as a fixed asset, and the mortgage as a long-term liability in QuickBooks.

Set up a fixed asset account named renovations to record upgrades. Log each payment to vendors as renovations and review the trial balance for the property.

Record the sale of a rental property in QuickBooks for landlords using gain on sale of property and loss on sale of property accounts.

Learn to record mortgage payments by splitting each payment into interest expense, escrow, and principal reduction, updating the long-term liability and trial balance with a split check.

Record tenant cash using either undeposited funds or cash on hand, then deposit the net amount; for example, unearned rent increases by 1000 while expenses reduce the deposit to 850.

Learn to write off uncollectible rent with a general journal entry to reduce rent receivable and increase uncollectible rent expense, while documenting invoices and making the tenant inactive.

Learn how to record tenant-provided services as rent credits in QuickBooks by creating a cleaning service item and applying credit memos to rent invoices.

Learn to record gains from abandoned security deposits in QuickBooks Desktop for landlords by using an other income account and a journal entry to credit gains and debit deposits payable.

learn how to set up and charge cam fees in QuickBooks for landlords, including creating the cam fees income account, invoicing tenants, and tracking differences with reports, classes, and budgets.

Apply QuickBooks for landlords to cooperatives and condominiums by recording resident payments and maintenance fees through the central bank account, with the board managing expenses.