Real Estate Accounting | Property Management using QuickBooks
New York Property Management in QuickBooks
Q: I am a property manager in New York so I can’t combine commercial and residential property income. There is a special real estate form filed for commercial property so most accountants want income and accounts receivable separated according to commercial and residential. How can I keep my data separated for my accountant?
A: As I am do not know of your setup, there are many ways to track details. You could create two Items or Accounts: one for residential rentals and another for commercial rentals.