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How to Enter Deposits from Property Managers using Quickbooks Online
In this episode, Nick Baldo discusses managing rent and expenses, using two properties as an example. He highlights common mistakes in recording revenue and expenses, correct transaction recording methods, and the significance of the Profit and Loss sheet. He introduces recurring transactions and the use of templates for them, and shares how to handle negative balances effectively. The episode concludes with the importance of line items for P&L reporting.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
You’ve hired a property manager...but you still need to track your rental revenue and expenses. In this video, I demonstrate how you can translate your Property Management statements directly to QBO
(0:00) Introduction to managing rent and expenses
(1:09) Example scenario: Managing two properties
(1:52) Common mistakes in recording revenue and expenses
(3:38) Correct methods of recording transactions
(6:51) Overview of Profit and Loss sheet
(7:15) Recurring transactions: An Introduction
(8:42) Utilizing recurring templates for monthly transactions
(9:15) Handling negative balances effectively
(11:16) Conclusion: Importance of line items for P&L reporting
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By Nick BaldoIn this episode, Nick Baldo discusses managing rent and expenses, using two properties as an example. He highlights common mistakes in recording revenue and expenses, correct transaction recording methods, and the significance of the Profit and Loss sheet. He introduces recurring transactions and the use of templates for them, and shares how to handle negative balances effectively. The episode concludes with the importance of line items for P&L reporting.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
You’ve hired a property manager...but you still need to track your rental revenue and expenses. In this video, I demonstrate how you can translate your Property Management statements directly to QBO
(0:00) Introduction to managing rent and expenses
(1:09) Example scenario: Managing two properties
(1:52) Common mistakes in recording revenue and expenses
(3:38) Correct methods of recording transactions
(6:51) Overview of Profit and Loss sheet
(7:15) Recurring transactions: An Introduction
(8:42) Utilizing recurring templates for monthly transactions
(9:15) Handling negative balances effectively
(11:16) Conclusion: Importance of line items for P&L reporting