Overview

The actual work involved with managing multi-unit properties is very time-consuming and full of details. So many tenants; so many rents to collect; so many changes to leases; so much data to manage! Few landlords are aware that QuickBooks, a plain vanilla off-the-shelf software product, can actually increase your productivity! QuickBooks can become your one-stop solution for managing everything about your property down to the finest details.

Written by Gita Faust, a property owner and also an Advanced Certified QuickBooks ProAdvisor, this manual walks you through all the steps to make QuickBooks your primary property management tool. You will save time and money, while experiencing less frustration with your bookkeeping system.

First, we have provided a customized property management chart of accounts! It’s ready for you to plug into your QuickBooks software and use it! But that’s not all:

• A sample property management company template is already set up on the CD you'll receive with the property management manual. All you have to do is copy it and start entering your information.
• You'll learn how to set up a new property owner or company and property, step-by-step.
• Record major property transactions accurately, such as improvements and mortgages.
• Set up the rent roll, tenants, loss of rent for vacancies, management fees, property “to do's”, and even record conversations with tenants.
• Accurately track rents, vacancies, security deposits, work orders, bills, and lease terms.
• Handle regular accounting tasks such as checks, reconciliations, credit cards, and online banking.
• You'll love our custom property management reports with a wealth of actionable property management information:
  • Rent roll
  • Income by tenant
  • Rent due
  • Lease expiration report
  • Reserve fund
  • Tenant security deposit
  • Work/repair orders by tenants and subcontractors
  • Property list
  • Expenses by property owner/company, property, and tenants

Software is not included with purchase.

Read about our Return Policy.

This book can also be used for Residential and Commercial but not for NNN leases.

email the author with your comments or questions

Features

Table of Contents

Template File
“Your Company”
   Copying the File
   Rename the File
   “Your Company”
Sample Data File
“Paradise Rental”
   Copying the File
Open Your Company
Enter Company Information
Passwords
   Administrator Password
   Add User
Backup and Restore
   Backup
      To backup
      Set Defaults
      Schedule a Backup
      Restore a file
Getting Around in QuickBooks
   Using the Menu Bar
   Home Page
   Icon Bar
   Viewing Your Open Windows
   Closing Your Windows
   Saving Transactions
Finding Answers
   Lists and Overview
   Chart of Accounts
   Item List
   Fixed Asset Item List
   Class List
   Other Names List
       Moving Other Names
   Customers
   Vendor
   Employee List
   Merge within Lists
Properties
10 steps to a New Property
      1. Enter the Property - 1
      2. Add a Vendor
      3. Record Earnest Money
      4. Create a Fixed Asset
      5. Final Payment at Settlement day
      6. Record a Property Purchase from HUD-1
      7. Enter Property - 2
      8. Enter a Vacant Tenant
      9. Create Rent Roll
      10. Create a Fixed Asset Item
   Loan Manager
      3 steps before you click on Loan Manager
Tenants
8 steps to a New Tenant
   1. Inactivate Vacant Unit
   2. Add a Tenant
       a. Address Info
       b. Additional Info
       c. Payment Info
       d. Job Info
   3. Notes on tenant conversation and details:
   4. To Do List
   5. Security Deposit
   6. Rent Roll
   7. Rent Invoice
   8. Memorize Rent Invoices
Tenant Rent Payments
   Receive Payments
   Make Deposits
Late Fees
   Late Fees Preferences
   Assess Finance Charges
   To Print Invoices
   Report for Late Fees and Rent Due
Tenant’s Lease
7 steps to Renewal of Lease
   1. Inactivate the Rent Roll
   2. Delete the Memorized Rent Invoice
   3. Enter Rent Roll
   4. Enter Rent invoice
   5. Memorize Rent Invoice
   6. Change Reminder
   7. Change the lease expiration date
6 steps to Expiration of Lease (Moved out)
   1. Inactivate the rent roll
   2. Delete Memorized Transaction – Rent Invoice
   3. Inactivate the Reminder
   4. Inactivate the Tenant
   5. Make "Vacant" Tenant Active
   6. Change Vacant Rent Roll
Eviction Letters
Statements – Tenants
Add a Vendor
   Address Info
   Additional Info
1099 Vendor
Expenses vs. Items
Entering Expenses and Items
   Write Checks
   To Print a Batch of Checks
   Void a Check
   Bounced Tenant’s Check
   Bank NSF Fee
Entering and Paying Bills
   Enter a Bill
        Paying a Bill
   Payment Method
        Payment Method: Checks
        Payment Method: Credit Card
        Payment Method: Online Checks
   You have to setup account for online access
Credit Card Purchases and Returns
   Credit Card Charge
   Credit Card Credit
   Enter balance on Credit Card Statements
Work Orders
   Create Work Orders
   Receiving a Bill Against Work Order
   Close Work Order
   Reports on Work Orders
Owner's equity
   Owner's investment
   Owner's Draw
Escrow Taxes/Insurance
   Escrow payments
   Expense your Escrow
Mortgage Received and Paid
   Mortgage Money Deposited
   Principal and Interest Payment
Line of Credit/Loans
   Loan Received Deposited
   Repay the Loan
Transfer Funds
Online banking
Reconciling Accounts
   Bank Account
   Credit Cards
Letters and Envelopes
Financial Reports
   Company and Financials
   Cash Flow
Property Management Reports
   Tenant and Property Reports
   Income Reports
   Vendors and Subcontractor Reports
   Bank Reports
Memorized Reports
Shortcut List

Download these pdfs for preview of Manage Properties with QuickBooks®: A Landlord's Guide to Residential Property Management.

Table of Contents
Sample Rent Roll
Sample Process - Handling Security Deposits

CD-ROM with template file you can use immediately with QuickBooks®

Sample data file for a fictitious company that demonstrates the explanations in this manual

Testimonials

"I was struggling to set up the most basic tasks. The manual that came with QuickBooks was good for one thing: showing me how hard it would be to do it right, and how easy it would be to do it wrong. When Gita came along, my learning curve sped up 300%, and I haven't looked back."

- Marv, property owner-manager

Full Product Details

ISBN: 978-0-9791240-0-6
          0-9791240-0-X
Pages: 204
Format: Spiral bound printed manual and CD
with QuickBooks® Template and Sample File
Publisher: Expert Publishers, Inc.
Publication Date: January 2006