Q: I collected rent amounts that need to be documented as well as the trash, water, gas, electric, etc. amounts. What is the best way to document those collected amounts? A flat rate is paid each month for all services.
A: Create an item for Rent (link to Rent Income account) Continue reading
Q: Thanks Gita. I am not sure what the difference between Intuit Enterprise and regular QuickBooks Pro is. We are trying to keep our cost low. Do we really need an Enterprise version and how much are they. I like the idea of QuickBooks Online so I can work wherever I am. Continue reading
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: I am looking for an accounting solution for our Real Estate business. We manage over 100 bank-owned properties for multiple Vendors. We need to track and bill expenses by property. We also need to handle Independent Sales People on a 1099 basis with deductible expenses. We need payroll Continue reading
Q: I am trying to move customers and vendor names to a new company. Any suggestions?
A: Let QuickBooks do the hard work by copying the list from one QuickBooks file to another when you are starting a new file. It is crucial that, after you import the data into the new file clean up Continue reading
Q: We run a commercial property management company and have to issue 1099 to property owners. Do we include CAM charges, real estate taxes with rent?
A: Property Management’s responsibility is to issue 1099 to the property owner at the end of the year for rent. Do not include CAM Continue reading
Q: How would I change my QuickBooks file to another chart of accounts (from rental to property management)?
A: You have two options: