Q: I want to set up QuickBooks as a apartment property management software. Will Premier be sufficient to manage 62 apartments units. Can you help me with the set up?

A: Multifamily properties and apartment building are considered commercial real estate. The setup, process and procedure are very similar to all QuickBooks software version.

You can use QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise and QuickBooks Online to manage apartment and multifamily units management and accounting. Sure give us a call for assistance to set up your file or follow the basic set-up:

• Create a new company file using the Rentals chart of accounts
• Units will be Customers
• Tenants will be Job
• Create first and last month rent invoices
• Memorize the invoices
• Receive payments
• Make deposits
• Enter bill or checks
• Reconcile bank accounts
• View reports including Profit and Loss

Above are the quick steps on using QuickBooks. You can also find resources on apartment property management blog for tips and tricks.

Here are additional resources that WILL save you time and money for landlords and property manager.