Discover How to Quickly & Easily Manage Commercial Property Using QuickBooks!
Commercial property investors and managers, commercial real estate asset managers often find themselves spending too much time on commercial real estate accounting and business management tasks and not enough on getting the next deals done. However, there is a solution for this common problem –
Commercial Property Management for Managers: QuickBooks Desktop.
This comprehensive QuickBooks guide shows you step by step how to painlessly set up your own QuickBooks Commercial Property Management Bookkeeping System and what’s even better you don’t need any accounting experience, you don’t need to buy any expensive software and you won’t have to pay any outrageous fees to a consultant to do it!
The Commercial Property Management Guide is Packed with All the Tips, Tricks, and Techniques You Need to Know
Course learning objectives:
Learn to customize reports and calculate rent escalations
Learn to produce a lease summary that shows all the facets of your tenant leases, so you can easily put them into a report or Excel spreadsheet
Learn to do calculations you can’t usually do in QuickBooks by simply exporting them to Excel
Learn to avoid lease audit
Learn to determine recovery expenses
Learn how to categorize and calculate CAM vs. Non-CAM expenses
Learn to record expenses vs property improvements
Instantly know when to schedule your commercial property rent increases
Track different types of leases, including single net, NN, NNN, percentage lease, absolute triple net lease, gross lease, and others
And much more on how to manage commercial property using QuickBooks
The Clear How-to Commercial Property Management Guide Packed with Images
Every task is explained in detail, with screenshots and step by step instructions. Even if you jump directly into the section without reading the book straight through, you will understand all how-to steps.
Over 100 screenshots that clearly explain each task
It is Time to Take your Business to the Next Level of Success
Plenty of programs can help you manage commercial properties, but do nothing else. Some programs do everything but cost a fortune. The Guide to Financial and Commercial Property Management provides property accounting, financial and management system in one convenient package – at a fraction of the cost of the other programs.
You’ll learn a total system for commercial property management, accounting, and tax returns – a system that can transform your commercial rentals business into a profit powerhouse.
This book delivers the next-generation solution for managing your commercial rental properties.
With Commercial Property Management for Managers: QuickBooks Desktop, You’ll Receive:
Book: Step-by-step advanced instructions
Downloadable QuickBooks company template file for managers of commercial properties
Video tutorials: watch, listen and learn
Access to a private Facebook group
Template QuickBooks file is compatible with QuickBooks Desktop Pro, Premier and Enterprise current version & prior two years (need a current version of QuickBooks? Call 866-645-3356).
Please, remember you must have QuickBooks® installed on your computer. Are you using Australia, Canada, UK, or other International QuickBooks version, or Online? Click here to read…
IMPORTANT: Do you charge tenants a flat or fixed rent? Then take a look at this book for Managers.
Content of the Guide
Content of A Guide to Financial and Commercial Property Management using QuickBooks
Section 1: Getting Started with QuickBooks Discover how to install QuickBooks and upload the included template and sample files. When your file is good to go, you will be prompted to make backups to restore your data just in case of a hard drive crash. You will also be provided with the resources to answer any questions you come across during the process of setting up your QuickBooks file.
Section 2: QuickBooks Basics Learn QuickBooks shortcuts to save time as well as the location of all the QuickBooks functions in the menu and icon bars to use the software to the max for your commercial property business. Once you know how to navigate your file, familiarize yourself with all of the accounting concepts (such as cash/accrual basis, item/class lists, etc.) you need to understand to effectively use QuickBooks. Also, discover how to utilize the calendar and to do list to stay up-to-date with your commercial property business procedures.
Section 3: Understanding Your File So now that your QuickBooks file is uploaded and you know where everything is in QuickBooks, let’s set up user accounts, and enter some of your company info. If you want to password protect or limit some of the users, you can do that too. Even before you need to enter your commercial property business expenses, learn how to categorize CAM vs. Non-CAM expenses and expenses vs property improvements. Also, discover how to automate your file to assess sales tax.
Section 4: Manage Names It’s time to enter the different entities you deal with into your QuickBooks file. Your property owners, commercial properties, units, tenants, applicants, subcontractors, and vendors all get entered into specific place within the file, creating a database for commercial accounting and management all in one. Also, the commercial properties and units have their separate methods of entering to make detailed list reports for commercial properties, units, property owners, and more.
Section 5: Balances Since you now have your customers, vendors, and properties entered in QuickBooks; let’s transfer some of the old information into your file. Tenant lease abstract, options, invoices, security deposits, and reserve funds are all covered in this section. Also, if you have rent escalations, you should enter prior CAM expenses and rent. When these pieces of info are in your file, you can view your reports and customize them too! Commercial real estate accounting is not that difficult, isn’t it?
Section 6: Leases Now you are ready to manage your leases, which is an important step on your path to learning QuickBooks for commercial property accounting and management. This section will familiarize you with leasing concepts and terminology such as Net, NN, NNN, Gross, and Special leases, and the types of leases encompassed by those categories. You will be able to develop, edit, and generate lease abstracts as well as learn how to add and renew leases. Also, if you are a third party manager, you can record your lease commissions.
Section 7: Manage Tenants Now that the leases are recorded; let us look at the long-term processes that go into every commercial property lease. Learn every step of tracking and receiving tenant payments within QuickBooks. Whether you are at the very beginning of a lease and dealing with applications, security deposits, and rent abatement or the lease needs to be ended early and you are dealing with bounced checks, rent credits, and eviction letters, this section will outline it for you! In addition, late fees, vacancy rent loss, invoice generation, and tenant statements are covered in this section of the commercial property management using QuickBooks guide.
Section 8: Orders When you start a project at a property make sure you enter a work order into QuickBooks! These can be used to track the arrangements between you and your vendor so you are always in the know about the cost of each property or unit.
Section 9: Manage Vendors This section of QuickBooks for commercial rentals guide shows how to track every interaction with vendors from deposits at the beginning of the job to refunds after paying from a completed task. You will learn how to enter and pay bills as well as manage your petty cash in QuickBooks. Also, if you want to add any markups to the vendor charges, you can record that to show or not show the property owners in your reports.
Section 10: Manage Loans You can track your loans and escrows by recording bills, or by utilizing the loan manager within QuickBooks. You will learn the difference between mortgages and line of credit loans as well as the different procedures to track them. Account for all loans to make sure your company does not miss a payment.
Section 11: Manage Owner’s and Properties Finally, it is time to get paid! Learn how to deduct management fees from the owner’s proceed and how to write a check to the owner. In addition, if the commercial property owner gives you reserve funds to cover any costs, discover how to use QuickBooks to manage this to pay for the expenses or transfer the funds to the owner’s proceed in managing your commercial properties.
Section 12: Miscellaneous Since you now know everything about using QuickBooks to manage your commercial properties, you can use this section to learn a few more valuable functions of QuickBooks. If you want to connect your bank and credit card accounts to online statements, you can learn how do to that. If you need 1099 forms, letters, or templates for your tenants, you can print them directly from QuickBooks. Finally, use the guide to reconcile your accounts to make sure your balances are accurate.
Section 13: It’s A No-Brainer! In this section, there are valuable checklists to track the transactions and activities to account for cash collection and expenditures. Also, after completing this section, you will be able to track multi unit tenants and rent escalations as well as expense recoveries. Now you know how to manage commercial property using QuickBooks.