Flip mobile homes – Show Me My Bottom Line in QuickBooks!

Flip mobile homes

Flip mobile homes – QuickBooks can be used as a property management system for any type of real estate. If you are flipping mobile homes–or any property for that matter–you’ll want to know what your bottom line is.

Q: I buy and sell Flip mobile homes. I also hold notes against the homes. How should I enter these in QuickBooks to accurately show my bottom line?

A: Notes are money owed to you at a later time. The account to use should be Accounts Receivable.

Create invoices for the principal and interest for each month and receive payments as you would from a tenant.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

Leave A Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Consulting Excellence: Empowering Your Success

We will never share your email.