Sign up to save your podcasts
Or
Share How to Transfer Property Ownership in Quickbooks Online
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
How to Transfer Property Ownership in Quickbooks Online
In this episode, Nick Baldo delves into the intricacies of property purchase, renovation, and finance recording. He explains how to shift renovation costs and handle lender reimbursement, introduces key accounting principles, and guides listeners through correcting balance sheet mistakes. The episode concludes with a post-correction balance sheet review and an invitation for listener queries.
https://www.youtube.com/playlist?list=PL89qBCL2vU2sH_RUyXu80vBY5hR8kLBMK
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
It's a common scenario! You purchase property in the name of one business, complete the rehab, then refinance and transfer the deed to a new entity. But how do you follow all of that in your Accounting books! This video demonstrates my exact method for transferring property ownership between entities. Enjoy!
(0:00) Introduction and setting up the scenario
(1:05) Initial property purchase and renovation overview
(2:35) Deep dive into recording closing costs and loans
(7:31) Shifting renovation costs to balance sheet and lender reimbursement
(10:24) Detailed walkthrough of property refinance recording
(15:20) Introduction to fundamental accounting equation and balance sheet discrepancies
(16:22) Concept of analyzing one business at a time and creating intercompany equity
(18:40) Identifying and correcting balance sheet mistakes
(19:30) Post-correction balance sheet review and understanding implications
(20:19) Wrap-up and invitation for listener questions
View all episodes
By Nick BaldoIn this episode, Nick Baldo delves into the intricacies of property purchase, renovation, and finance recording. He explains how to shift renovation costs and handle lender reimbursement, introduces key accounting principles, and guides listeners through correcting balance sheet mistakes. The episode concludes with a post-correction balance sheet review and an invitation for listener queries.
https://www.youtube.com/playlist?list=PL89qBCL2vU2sH_RUyXu80vBY5hR8kLBMK
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
It's a common scenario! You purchase property in the name of one business, complete the rehab, then refinance and transfer the deed to a new entity. But how do you follow all of that in your Accounting books! This video demonstrates my exact method for transferring property ownership between entities. Enjoy!
(0:00) Introduction and setting up the scenario
(1:05) Initial property purchase and renovation overview
(2:35) Deep dive into recording closing costs and loans
(7:31) Shifting renovation costs to balance sheet and lender reimbursement
(10:24) Detailed walkthrough of property refinance recording
(15:20) Introduction to fundamental accounting equation and balance sheet discrepancies
(16:22) Concept of analyzing one business at a time and creating intercompany equity
(18:40) Identifying and correcting balance sheet mistakes
(19:30) Post-correction balance sheet review and understanding implications
(20:19) Wrap-up and invitation for listener questions