QuickBooks For Landlords: Security Deposits, Rent & Expenses

Hello Landlords & Bookkeepers! In this video, you will learn how to set up a QuickBooks desktop file for your rental property. I will show you you to track multiple buildings within one LLC. I will teach you how to set up tenants. You will learn how to create items in QuickBooks to invoice for rent as well as security deposits. I show you how to correctly create security deposit items so that they will show as a liability on your balance sheet. I will show you how to class track. You will also learn how to create a credit memo for a tenant. I go over how to enter expenses and track those by location. Hi, I'm Laurie Ellison from Hudson Valley Bookkeeping, Inc. We specialize in Real Estate QuickBooks coaching & Commercial Real Estate bookkeeping. My mission is to help solo-preneurs and investors get their time back by mastering their finances. 👇 BOOK YOUR FREE CONSULTATION 👇 I always speak with a client before scheduling to ensure we are a perfect fit. Click here to schedule a free 15-minute chat: https://book.squareup.com/appointment... Visit our website: https://hvbookkeeping.com/real-estate... ______ FREE Downloadable Resources for You! ⬇ ⬇ ⬇ ⬇ ⬇ ⬇ ⬇ ✔ Landlord Chart of Accounts: https://link.apisystem.tech/widget/fo... ✔ Petty Cash Explained PDF https://api.leadconnectorhq.com/widge... ✔ CAM Spreadsheet/Reconciliation Workbook: https://api.leadconnectorhq.com/widge... ✔ Sample Property Management Statement: https://api.leadconnectorhq.com/widge... _______ ❕Check out our 2️⃣0️⃣2️⃣4️⃣ QuickBooks Online Landlord series:❕ Part One:    • New to QuickBooks Online? Here's How Landl...   Part Two:    • 2024 QuickBooks Online Setup for Landlords...   Part Three:    • Organize Your Landlord Expenses Like a Pro...   Part Four:    • QuickBooks Setup Part 4: Property Assets D...   Part Five:    • Stop Making This Mortgage Mistake in Quick...   Coaching With Laurie ⬇ __ How the Coaching Works: Lessons have a minimum of one hour and a maximum of two hours. ⏰ Lessons are conducted via Zoom. 💻 The lesson will be recorded and sent to you for future reference. 📸 __ Scheduling: I always like to speak with the real estate investor before we meet, so I fully understand his/her needs and concerns to make the most out of their QuickBooks lesson. If you are interested, please: Email me at📩 : [email protected] Call me at📱 : (914)294-2316 __ Topics Covered But Not Limited To: Guided Setup for your QuickBooks File Chart of accounts specific to real estate. Learning the dos and don’ts of QuickBooks. Picking the correct version of QuickBooks for your needs. Guided QuickBooks Clean Up: 🧹 Fix the Balance sheet. Clean up duplicate accounts. Learn how to post in your own QuickBooks. Learn how to reconcile your bank accounts and credit cards. Property Purchase and Sales: 🏦 Posting a purchase or sale of a property. Learning how to post a flip property. Property Financing: 💰 Post a refinance of a property loan. Learn how to properly post your mortgage payment each month. Reconcile your mortgage statement each month. Rent Roll-Specific Income Tracking: 💲 Creating a chart of accounts appropriate for rental properties. Create income codes specific to your rental units so that you can run a rent roll P&L. Learn how to automate rent invoices for your tenants Learn to receive payments against rent invoices. Expense Tracking: 🏨 Track income and expenses specific to certain buildings or units. Determine if you need to use class tracking. Security Deposits: 👨‍👩‍👧‍👦 Record security deposits in your QuickBooks specific to each tenant. How to give a partial security deposit refund to a tenant. Fix security deposits in your QuickBooks. Property Management: 💻 Post property management statements in QuickBooks. Reconcile property management escrow bank accounts. Disclaimer: This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Hudson Valley Bookkeeping, Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Hudson Valley Bookkeeping, Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.