Use QuickBooks to Track Improvements on Multiple Properties

September 28, 2023

Q: I am using QuickBooks for real estate and property management. What is the best way to set up building improvements under fixed assets on multiple properties?

A: You will need to set up your QuickBooks:

Create Class for each Property
Create Building Improvements as a Fixed Asset

When entering each expense make sure you enter the Property name under Class column and then view your report Balance Sheet by Class for accuracy.

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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