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Investment Properties

Q: How do I record buy, rehab, and sell properties to reflect the cost for each individual property?

ACreate an Item for the Property. Link it to an Asset account. When recording transactions for the property, use the appropriate Class for the property.

View your Balance Sheet by Class (not totally accurate) but your Fixed, Current and Other Assets and Liability should be pretty accurate.

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.

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