Hello my friends!! This is the most amazing thing you will ever see. This perfect video will show everyone everywhere exactly how to use QuickBooks Online if you are a landlord or property manager. Don’t pay hundreds for real estate- management software when this free tutorial clearly proves to you that QuickBooks Online is better than anything for record keeping that property owners need and it’s free here on RUclips. Don’t pay for those expensive QuickBooks live classes that don’t even explain as well as this video, how to use Q.B.O. These methods here in this video are easy and really work perfectly if you follow along step - by - step just like it shows., It’s the best training here on RUclips and you will see it’s exactly what you need. I hope you will like and subscribe -Mark
I cannot tell you how thankful I am you literally just released this video. I am in the process of organizing our books, and this was a godsend. As a landlord, the power of having access to this is incredible, as it allows us to accurately measure property performance, probably better than any property manager can. Thank you, and look forward to more of these landlord-specific guides.
Thank you for the kind words in a very glad. It's helping you,. That's what I put it up for. There is a sequel part to coming out probably in about one month and it will cover all the remaining topics that a landlord could need but this video here. Applies to all landlords But. that video will only apply to landlords who have those situations.situations like leases or rent credit for tenants who perform services. Or flipping houses or shared utility costs will be the type of things that only some landlords have but not others so I stuck them all in the. Part 2. of this video. Please stay in touch and check back with me and about one month. And if you need other topics like bank reconciliation or speeding things along with bank feeds and downloading zactions,. Just let me know when I will send you the link.and I hope. You will click like and subscribe on all the videos you watched. Mark
You can have several properties as long as they are owned by the same entity or the same company Follow this video step by step and you will see exactly how it works if you have multiple properties owned by one company Mark
I have a new bookkeeping client who is a landlord, but he uses a Property Management company. I'm using class tracking to track expenses and rental income by unit. Do I need to list the tenants, since the PM is billing, collecting rent and fees from the tenants and maintaining their own separate books in their property management software? I create a Journal Entry every month to break out the different items on the Owner's Statement from the PM.
Thank you but I cannot comment on any other method except for what's shown here and I need to be clear if your client gives service to landlords or if your client is a landlord who does their own record keeping If it's a Property Management Service Company that gives service to landlords then I recommend the QuickBooks desktop Enterprise or any desktop version because unfortunately online still lacks the important accounts receivable related features to be able to work well with a company that gives service to landlords If your client is a landlord then this method will work perfectly Please clarify and I will be happy to help you and I can give you the desktop Property Management playlist that gives service to landlords and you will see how it works Mark
@@worldwidequickbooks , thank you! I am a bookkeeper and my client is a landlord who uses a Property Management Service Company. My landlord has access to the PM's software or platform, but I don't have access to it. The landlord emails the Monthly Owners Statements that he receives from the PM company. Thanks again for your videos. Very helpful
Thank you for your question and ask you can see. I did add an account and an item. The account is the same one that you're talking about. But this way the account will record the exact same bad debt but also properly be reflected in the customers balance. You need to be able to put that on a document that will affect the customer's balance so that you can have clear customer reports for the future and the. Only way To Do that is to attach an item to the account like the way the video shows.. I do thank you for watching and I'm absolutely sure that if you follow these methods exactly you will have everything you need.. Coming soon will be the sequel to this video where we talk about. Lisa's and special arrangements like flipping houses and shared utilities and rent credit for services given from tenants and so on. So stay tuned and stay in touch Mark
Thank you for asking but this video does show how to do that. Watch the entire thing in proper order and you will see how you can make units under buildings and run reports per building and unit I'm here if you have any follow-up questions Mark
If you did not put it in the custom section then go to the standard section of reports and look at the section for sales customers and who owes you and you will see it and remember you have to have the plus version of QuickBooks Online Mark
Both desktop and online can be used for landlords This video plus an additional playlist I can send you would show you exactly how you would use QuickBooks Online for landlords but if you want to know how to use QuickBooks desktop for landlords I could send you the links I'm happy to send you all the information you need just let me know which one you need Mark
Thank you.I suggest you watch this video and use exactly the method and the techniques that this video shows Start from the beginning and watch the chapters in proper order and follow step-by-step and the message will work together.And you will have what you need regarding income and recording income properly Mark
I am a full time landlord and use QB Desktop Accountant 2021. I am thinking of converting to QB online. Did you know what version of QB online I would need? It seems Plus or Advance - I need to customize reports. Thanks
Yes you would need either the Plus or the advanced version to assess the important features for most types of companies including landlords I want to put up part 2 that shows you even more things you can do with your QuickBooks Online as a landlord but I have so many other videos I'm trying to make first Mark
I have rental income from a cabin, leasing income from land I lease for hunting, and farm income from cattle. How can I differentiate these so when tax time comes all of the income and expenses are separated for our CPA?
Thank you but this video is for people who have several properties and need to track the income and expenses from each and track the tenant's records.. You have to talk to your CPA because it seems you do not have that situation. You have only one tenant and you Have other types of income so you would need a custom set up. But it should not be difficult simply to make a separate income Have other types of income so you would need a custom set app but it should not be difficult simply to make a separate income account in the chart of accounts. For each income source
You're very welcome! I have a quick books video for every topic so please ask. I hope you will click like after watching each one to help support the free channel for everyone and please subscribe. Mark
Thank you for asking You must have the plus version in a plus subscription to be able to access the important features and then your screen will look the same as this video and you'll be able to follow step by step and get so you need. This coming june,. I'm going to put up a part 2 of this video that will show every other possible topic like leases,rent credit for services given,share. Utilities expense and I'll even have a section how to record flipping houses.. So watch this video at stay tuned and let me know if there's anything else you need. Mark
The link in your ther comment will show that and you should know that this fall, there will be a "sequel" to theis video for landlords, part 2, that will include all advanced landlord issues like leases and flpping houses and so on. I hope you will click "like" after each one to support the free help for everyone and please subscribe. -Mark
Thank you for asking Put February one as the due date because the January invoice requests February is rent. I do appreciate you watching and you will say it will work perfectly. The sequel to this video that has all the remaining topics ilke leases and flipping houses and so on is coming in about a month. Please stay on touch and let me know if you have any other questions. Mark
@@worldwidequickbooks Superb! I am so thrilled about this training video. Your clarity of thought, guidance and thoroughness are greatly appreciated! I will continue to tune in.
In your class on property management you made renters an ‘job’ under the landlord in the customer filed. Can I do this in QuickBooks on line? I am accounting for an HOA which is acting as it’s own property manager so I would like to make the home the landlord and the current owner the tenant. That way I have a continuing record of each home even when ownership changes.
Thank you but I don't really understand your question Please clarify if you're talking about a service company that gives service to landboards or a company that owns the properties themselves. I'm having trouble understanding which type of company you're asking about and why you would want To Do a differently than the way the video shows. Mark
Yes you can!! I have 3 playlists, when watched in proper order, will be the desktop equvalent of this video here. Here is the main playlist. ruclips.net/video/9N8ag1CeGvI/видео.html The other 2 playlists have links to them in the description field and in the top right corner When you clik there for the links that youtube provides. Pease confirm you found all 3. You can also purchase the updated desktop version of the course at quickbooks for landlords dot net. Please confirm you found the links. -Mark
Hi Mark, thank you for the walkthrough, one question i have, couldn't accounts payable be used instead of accounts recievable for unearned rental income?
You cannot Any time someone asks me if we can do something differently? I always tell them to go ahead and try and see what happens. However I will save you time by telling you that accounts payable will match vendor balances. But you need an account that matches the customer balances. You have to make your tenants customers not vendors because you receive payment from them. So unfortunately the way that the video shows is the only way that landlords can do it but it is easy and it will work perfectly and give you everything you need. I'm coming out with an advanced sequel to this course. That'll show all remaining topics for landlords and quick books online and I hope to have it ready Some time early Autumn Please check back with me and stay in touch. If you have any other questions and I hope you will click like and subscribe. Mark
My QB are a hot mess. trying to create a Trial Balance Report and since I downloaded my accounts and credit card information it has already created reports! Ahh so when I try to delete them it asks me if I want to delete but when I click yes, they do not go away. Help?
Thank you I wish I could help but I cannot see what is inside your computer I wish I could do a formal consulting session with everyone who asked me for this help. I can advise you on the method of how to record something that's what these videos show I don't know why you're clicking delete and they're not going away and I don't know why you have a hot mess but I do. Know it would take a certain amount of time with questions and discussion just for someone to find out. What's really going on and that of course calls for a formal consultation Mark.
Hello Sir, Hope you will be doing great. I have query regarding the tenant yearly recording invoice. I just join real estate company as an accountant and I never been worked with real estate before. So, previous accountant record all invoices of a product/services in a bundle category which I believe should have to be in services category. Another thing is real estate work as intermediate so all income or cash belong to landlord and in our software it is recorded in account receivable. How should I connect landlord income to their account or expense account, because for us it is an expense not our income. In addition he(Previous accountant) used journal entry to convert that landlord receivable to cost of sales to remove that from income in profit and loss. It looks like a big mess could you please guide me in that.
Thank you so much but i'm not going to read all that Can you summarize your question in two or three sentences? I would be happy to help you in that case Mark
@@worldwidequickbooks How to add yearly rent of a tenant. How to connect accounts, because that rent belongs to landlord not to real estate. Thank you!
Hey Mark! What will be the difference if I will just use Deposit(Bank deposit) instead of Payment(Receive payment)? Because for me it's sounds more appropriate in the Landlords perspective.
Have you tried it? You will see it doesn't work because the customer subsidiary records won't change the individual tenants balances unless you use the receive payment window. The receive payment window allows you to apply rent payments to rent in voices and the deposit window does not allow you To Do that. This message is proven to be the best one and where people start getting fancy or doing things differently they get into trouble. Mark
I am just a little bit confused because you also used Bank deposit window instead of Receive payment window specifically if together with security deposit.
I have a follow up question to this one. If checking account is linked to QB and all transactions auto upload, then do I have to delete the existing rental income transaction from the checking account before processing the payment receipt in the receive payment window? @@worldwidequickbooks
Yes, I have a very weak computer. And I now have professional editors so future videos. That won't happen but I hope you can still learn well I hope you will click like after watching each 12 help support the free channel for everyone and please subscribe Mark
Great video and best of all it's free. Cant beat this! I thank you so much for all your quickbook videos. I actually watched it from beginning to end. I wonder can i start with the lowest QuickBooks plan (simple start) since I'm new with my management company?
Thank you for the kind words and i'm very glad the video is helping you You must have the plus version or the advanced , so you will not have the important features You will see if you sign up for simple start that you will not be able to do the things that the video requires for a landlord to manage their tenants and their financial information I wish the cheaper version would work but unfortunately the cheaper version Simply lacks the features that you need in this case I hope you will click like after. Watching each video to help support the free channel for everyone and please subscribe Mark
You're welcome! Come back soon for part 2 of this video so you can be sure you if everything is a landlord and don't forget to click like and subscribe. To help support the free channel for everyone.
Thank you so much, Don't forget to come back over the summer for part 2 that has advanced landlord issues and to see the desktop version Of this course? Period if you have any questions or need any other quick book's topic? Let me know and I hope you will click like and subscribe. Mark
Hello my friends!!
This is the most amazing thing you will ever see. This perfect video will show everyone everywhere exactly how to use QuickBooks Online if you are a landlord or property manager.
Don’t pay hundreds for real estate- management software when this free tutorial clearly proves to you that QuickBooks Online is better than anything for record keeping that property owners need and it’s free here on RUclips.
Don’t pay for those expensive QuickBooks live classes that don’t even explain as well as this video, how to use Q.B.O. These methods here in this video are easy and really work perfectly if you follow along step - by - step just like it shows., It’s the best training here on RUclips and you will see it’s exactly what you need.
I hope you will like and subscribe
-Mark
I cannot tell you how thankful I am you literally just released this video. I am in the process of organizing our books, and this was a godsend. As a landlord, the power of having access to this is incredible, as it allows us to accurately measure property performance, probably better than any property manager can. Thank you, and look forward to more of these landlord-specific guides.
Thank you for the kind words in a very glad. It's helping you,. That's what I put it up for.
There is a sequel part to coming out probably in about one month and it will cover all the remaining topics that a landlord could need but this video here. Applies to all landlords But. that video will only apply to landlords who have those situations.situations like leases or rent credit for tenants who perform services. Or flipping houses or shared utility costs will be the type of things that only some landlords have but not others so I stuck them all in the. Part 2. of this video.
Please stay in touch and check back with me and about one month.
And if you need other topics like bank reconciliation or speeding things along with bank feeds and downloading zactions,. Just let me know when I will send you the link.and I hope. You will click like and subscribe on all the videos you watched.
Mark
Great video. Would you recommend using one subscription for multiple properties? I was always taught one entity per company file.
You can have several properties as long as they are owned by the same entity or the same company
Follow this video step by step and you will see exactly how it works if you have multiple properties owned by one company
Mark
@@worldwidequickbooks different entity for each strip mall
I have a new bookkeeping client who is a landlord, but he uses a Property Management company. I'm using class tracking to track expenses and rental income by unit. Do I need to list the tenants, since the PM is billing, collecting rent and fees from the tenants and maintaining their own separate books in their property management software? I create a Journal Entry every month to break out the different items on the Owner's Statement from the PM.
Thank you but I cannot comment on any other method except for what's shown here and I need to be clear if your client gives service to landlords or if your client is a landlord who does their own record keeping
If it's a Property Management Service Company that gives service to landlords then I recommend the QuickBooks desktop Enterprise or any desktop version because unfortunately online still lacks the important accounts receivable related features to be able to work well with a company that gives service to landlords
If your client is a landlord then this method will work perfectly
Please clarify and I will be happy to help you and I can give you the desktop Property Management playlist that gives service to landlords and you will see how it works
Mark
@@worldwidequickbooks , thank you! I am a bookkeeper and my client is a landlord who uses a Property Management Service Company. My landlord has access to the PM's software or platform, but I don't have access to it. The landlord emails the Monthly Owners Statements that he receives from the PM company. Thanks again for your videos. Very helpful
Goodday! Why create additional product list instead of adding an account which is for example bad debt expense? TYI
Thank you for your question and ask you can see. I did add an account and an item.
The account is the same one that you're talking about.
But this way the account will record the exact same bad debt but also properly be reflected in the customers balance.
You need to be able to put that on a document that will affect the customer's balance so that you can have clear customer reports for the future and the. Only way To Do that is to attach an item to the account like the way the video shows..
I do thank you for watching and I'm absolutely sure that if you follow these methods exactly you will have everything you need..
Coming soon will be the sequel to this video where we talk about. Lisa's and special arrangements like flipping houses and shared utilities and rent credit for services given from tenants and so on.
So stay tuned and stay in touch
Mark
How do you get rollup reports at the PROPERTY level (Payton Place/Meadow) As well as at the PARENT level ?
Thank you for asking but this video does show how to do that. Watch the entire thing in proper order and you will see how you can make units under buildings and run reports per building and unit
I'm here if you have any follow-up questions
Mark
cannot find the "transaction list by customer" option @30.20
If you did not put it in the custom section then go to the standard section of reports and look at the section for sales customers and who owes you and you will see it and remember you have to have the plus version of QuickBooks Online
Mark
@@worldwidequickbooks Wow. Than you for your prompt reply. I will go to the plus
@ 1.03 I cannot locate my account receivable. I have even tried all the inactive charts. How do I locate it
OK, I got it. I called and they helped me create it. Thanks!
What is the best quick books to use for landlords
Both desktop and online can be used for landlords
This video plus an additional playlist I can send you would show you exactly how you would use QuickBooks Online for landlords but if you want to know how to use QuickBooks desktop for landlords I could send you the links
I'm happy to send you all the information you need just let me know which one you need
Mark
I am setting up a new rental home I own in Quickbooks. I know how to enter expenses, however, do I set up the rental income under "income"?
Thank you.I suggest you watch this video and use exactly the method and the techniques that this video shows
Start from the beginning and watch the chapters in proper order and follow step-by-step and the message will work together.And you will have what you need regarding income and recording income properly
Mark
I am a full time landlord and use QB Desktop Accountant 2021. I am thinking of converting to QB online. Did you know what version of QB online I would need? It seems Plus or Advance - I need to customize reports. Thanks
Yes you would need either the Plus or the advanced version to assess the important features for most types of companies including landlords
I want to put up part 2 that shows you even more things you can do with your QuickBooks Online as a landlord but I have so many other videos I'm trying to make first
Mark
I have rental income from a cabin, leasing income from land I lease for hunting, and farm income from cattle. How can I differentiate these so when tax time comes all of the income and expenses are separated for our CPA?
Thank you but this video is for people who have several properties and need to track the income and expenses from each and track the tenant's records..
You have to talk to your CPA because it seems you do not have that situation. You have only one tenant and you Have other types of income so you would need a custom set up. But it should not be difficult simply to make a separate income Have other types of income so you would need a custom set app but it should not be difficult simply to make a separate income account in the chart of accounts. For each income source
Thank you so much for this video, It really helps a lot on my understanding Quick books Online. More power to you Mark.
You're very welcome!
I have a quick books video for every topic so please ask. I hope you will click like after watching each one to help support the free channel for everyone and please subscribe.
Mark
Which version of Quickbooks online is needed to do everything you show in this video please?
Thank you for asking
You must have the plus version in a plus subscription to be able to access the important features and then your screen will look the same as this video and you'll be able to follow step by step and get so you need.
This coming june,. I'm going to put up a part 2 of this video that will show every other possible topic like leases,rent credit for services given,share. Utilities expense and I'll even have a section how to record flipping houses..
So watch this video at stay tuned and let me know if there's anything else you need.
Mark
How do I create a paid stamped invoice for the rent I have already received without applying them to the invoices?
The link in your ther comment will show that and you should know that this fall, there will be a "sequel" to theis video for landlords, part 2, that will include all advanced landlord issues like leases and flpping houses and so on.
I hope you will click "like" after each one to support the free help for everyone and please subscribe.
-Mark
On the January rent invoice dated 1/31/2023, what date should you use as the due date?
Thank you for asking
Put February one as the due date because the January invoice requests February is rent.
I do appreciate you watching and you will say it will work perfectly.
The sequel to this video that has all the remaining topics ilke leases and flipping houses and so on is coming in about a month.
Please stay on touch and let me know if you have any other questions.
Mark
@@worldwidequickbooks Superb! I am so thrilled about this training video. Your clarity of thought, guidance and thoroughness are greatly appreciated! I will continue to tune in.
Do the tenant have to have a quickbook account to pay invoice?
Tenants can pay the invoice in any way they like
In your class on property management you made renters an ‘job’ under the landlord in the customer filed. Can I do this in QuickBooks on line? I am accounting for an HOA which is acting as it’s own property manager so I would like to make the home the landlord and the current owner the tenant. That way I have a continuing record of each home even when ownership changes.
Thank you but I don't really understand your question
Please clarify if you're talking about a service company that gives service to landboards or a company that owns the properties themselves.
I'm having trouble understanding which type of company you're asking about and why you would want To Do a differently than the way the video shows.
Mark
Can I used QuickBooks accountant desktop version instead of the online version to manage my rental propereties?
Yes you can!!
I have 3 playlists, when watched in proper order, will be the desktop equvalent of this video here.
Here is the main playlist.
ruclips.net/video/9N8ag1CeGvI/видео.html
The other 2 playlists have links to them in the description field and in the top right corner When you clik there for the links that youtube provides.
Pease confirm you found all 3.
You can also purchase the updated desktop version of the course at
quickbooks for landlords dot net.
Please confirm you found the links.
-Mark
Hi Mark, thank you for the walkthrough, one question i have, couldn't accounts payable be used instead of accounts recievable for unearned rental income?
You cannot
Any time someone asks me if we can do something differently? I always tell them to go ahead and try and see what happens.
However I will save you time by telling you that accounts payable will match vendor balances. But you need an account that matches the customer balances.
You have to make your tenants customers not vendors because you receive payment from them.
So unfortunately the way that the video shows is the only way that landlords can do it but it is easy and it will work perfectly and give you everything you need.
I'm coming out with an advanced sequel to this course. That'll show all remaining topics for landlords and quick books online and I hope to have it ready Some time early Autumn
Please check back with me and stay in touch. If you have any other questions and I hope you will click like and subscribe.
Mark
My QB are a hot mess. trying to create a Trial Balance Report and since I downloaded my accounts and credit card information it has already created reports! Ahh so when I try to delete them it asks me if I want to delete but when I click yes, they do not go away. Help?
Thank you I wish I could help but I cannot see what is inside your computer
I wish I could do a formal consulting session with everyone who asked me for this help.
I can advise you on the method of how to record something that's what these videos show
I don't know why you're clicking delete and they're not going away and I don't know why you have a hot mess but I do. Know it would take a certain amount of time with questions and discussion just for someone to find out. What's really going on and that of course calls for a formal consultation
Mark.
Hello Sir,
Hope you will be doing great. I have query regarding the tenant yearly recording invoice. I just join real estate company as an accountant and I never been worked with real estate before. So, previous accountant record all invoices of a product/services in a bundle category which I believe should have to be in services category. Another thing is real estate work as intermediate so all income or cash belong to landlord and in our software it is recorded in account receivable. How should I connect landlord income to their account or expense account, because for us it is an expense not our income. In addition he(Previous accountant) used journal entry to convert that landlord receivable to cost of sales to remove that from income in profit and loss.
It looks like a big mess could you please guide me in that.
Thank you so much but i'm not going to read all that
Can you summarize your question in two or three sentences?
I would be happy to help you in that case
Mark
@@worldwidequickbooks
How to add yearly rent of a tenant. How to connect accounts, because that rent belongs to landlord not to real estate.
Thank you!
Hey Mark! What will be the difference if I will just use Deposit(Bank deposit) instead of Payment(Receive payment)?
Because for me it's sounds more appropriate in the Landlords perspective.
Have you tried it?
You will see it doesn't work because the customer subsidiary records won't change the individual tenants balances unless you use the receive payment window.
The receive payment window allows you to apply rent payments to rent in voices and the deposit window does not allow you To Do that.
This message is proven to be the best one and where people start getting fancy or doing things differently they get into trouble.
Mark
I am just a little bit confused because you also used Bank deposit window instead of Receive payment window specifically if together with security deposit.
I have a follow up question to this one. If checking account is linked to QB and all transactions auto upload, then do I have to delete the existing rental income transaction from the checking account before processing the payment receipt in the receive payment window? @@worldwidequickbooks
this is very valuable information, but I get a headache watching it, because the colors flicker :(
Yes, I have a very weak computer. And I now have professional editors so future videos. That won't happen but I hope you can still learn well
I hope you will click like after watching each 12 help support the free channel for everyone and please subscribe
Mark
Great video and best of all it's free. Cant beat this! I thank you so much for all your quickbook videos. I actually watched it from beginning to end. I wonder can i start with the lowest QuickBooks plan (simple start) since I'm new with my management company?
Thank you for the kind words and i'm very glad the video is helping you
You must have the plus version or the advanced , so you will not have the important features
You will see if you sign up for simple start that you will not be able to do the things that the video requires for a landlord to manage their tenants and their financial information
I wish the cheaper version would work but unfortunately the cheaper version Simply lacks the features that you need in this case
I hope you will click like after. Watching each video to help support the free channel for everyone and please subscribe
Mark
This is GOLD!
Thank you so much. And I hope in a few months. I have part two of quick books for landlords
I hope you will click like and subscribe
Mark
Oh I did! Looking forward to learning more from you in the future. Thank you for sharing your knowledge. @@worldwidequickbooks
thank you
Glad to help; I know you will love this if you give it a chance
Bless Your Heart 💛🥹
Thank you. I'm glad you like the video and I hope you will always Click. like after watching each one and Please subscribe.
Mark.
Thank you so much. big help!!!
You're welcome!
Come back soon for part 2 of this video so you can be sure you if everything is a landlord and don't forget to click like and subscribe. To help support the free channel for everyone.
You're the best❤❤❤
Thank you so much,
Don't forget to come back over the summer for part 2 that has advanced landlord issues and to see the desktop version Of this course? Period if you have any questions or need any other quick book's topic? Let me know and I hope you will click like and subscribe.
Mark
thank you sir😍😍
Thank you my friend
I'm here if you need anything else in quick books and please click like and subscribe
Mark