Property Management Book Content
Property Management Edition 1.0
Learn how to setup QuickBooks Online so it acts just like a Property Management software package
- Setup up Customers, Units, Tenants
- See expenses at the Unit level
- Run multiple Properties in one QB Company
- Balance sheet by location (Property)
- Let Resident Managers have their own access
From the Inventor of www.MyProp.us
Copyright © 2014 By Clem Dominguez all rights reserved
Table of Contents
- Introduction – Why QuickBooks Online?
- Setting up properties – Units, Tenants and Customers.
- Classes vs. Locations – What’s the difference and why use?
- Adding Charge codes - Rent, Utilities, garage fees etc.
- Setting up recurring charges for Tenants
- Creating a recurring invoice for Tenants payments and depositing it – Money coming in
- Paying Bills – Money going out
- Chart of Accounts setup - By entry or imported
- User Setup – Including one for a Resident Manager
- Moving Tenants In/Out
- Security Deposits and the Balance sheet
- Keeping Up with QBO
Why QuickBooks online? Isn’t that an awful program? I’ve heard many people say that over the years including myself. But in 2014 when I took my certification exams in QuickBooks to be an Online Pro advisor I began to like the Online Version. It took me a little time to learn it but now I find it very easy to use.
Why listen to me? I bought my first 4 unit building in 1973. In 1979, being a computer programmer I wrote a Property Management system on a Radio Shack PC. Two year later I wrote another one on a multi user system with a partner. That company still exists today and specializes in commercial property management.
In 2002 when QuickBooks announced their development program I quickly wrote a Property Management System http://www.MyProp.us connected to QuickBooks Desktop When I saw the way it was structured with Location that you could call properties and also still have classes, I thought this could really work for Property Management.
The program still needs more custom fields to store Tenant data and things like that but that will come. Hopefully I’ve convinced you to spend some time looking at the possibilities. Its easy to use and will save you money in the future. Think of it no more IT guy to call when the system goes down. A resident manager can connect up and you’ll know instantly when a new Tenant move in, pays rent etc..
This book is not designed to teach you QBO. What it will teach you is how to use the online version to manage your properties efficiently. I will be going over some of the features I like along the way. You are required to have at least a working knowledge of QuickBooks Online to really get how this works. There are many online courses and tutorials on the net to do this. But give QBO a try; eventually you’ll really love it. Here’s a link to get started.