Tennessee Realtor Chart of Accounts

Tennessee realtor chart

Tennessee realtor chart of accounts TNQ: I am from Tennessee where realtors can only be classified as self-employed. No corporations can receive commissions as they do in other states. I am interested in a sample for a real estate agent and/or team of agents that I can use.  I did find a chart of accounts at BUT it doesn’t directly correspond to what I report for taxes.

A: The beauty of a program like QuickBooks is how easy it is to customize to your real estate business.

First start by creating a new QuickBooks file and when following the steps, select real estate or consulting as your industry. This process will allow you can easily add, edit, or delete accounts to your company’s specific needs.

By customizing your file properly, you will be able to extract the necessary information when it comes time to file your taxes analyze your finances, and see your bottom line. Tennessee Realtor Chart of Accounting for Real Estate Agents

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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