Income Digs

By Nick Baldo

"Income Diggs" is a podcast focusing on the use of technology to help real estate investors and bookkeepers expand and streamline their operations. The show provides insights into technological soluti... more

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FAQs about Income Digs:

How many episodes does Income Digs have?

The podcast currently has 118 episodes available.

Income Digs episodes:

September 15, 2019 [ENROLL NOW] End to End Quickbooks Online Training for Real Estate Investors
In this episode, Nick Baldo announces a Real Estate Accounting Boot Camp, provides a master class on QuickBooks Online for real estate investing, and discusses its benefits. He explores how to scale a real estate business using QuickBooks Online, manage accounting books, and handle daily numbers and year-end tax prep. The episode concludes with special offers for course participants.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse
Gain the skills and strategies to make Quickbooks Online a powerful tool that empowers you to scale your Real Estate Business. Join me as I take you from a fresh set of books to a comprehensive financial management system within Quickbooks Online!
(0:00) Introduction and Real Estate Accounting Boot Camp Announcement
(0:21) Master Class on QuickBooks Online for Real Estate Investing
(0:40) Advantages of QuickBooks Online in Real Estate Business
(0:55) Scaling Real Estate Business Using QuickBooks Online
(1:00) System for Managing Accounting Books in Real Estate
(1:05) Handling Daily Numbers and Year-End Tax Prep in Real Estate
(1:10) Special Offers for Course Participants
...more
2min
September 13, 2019 How to Export Quickbooks Online Rehab Data for Super Powerful Reporting
In this episode, Nick Baldo discusses the real estate accounting boot camp course, emphasizing the importance of QuickBooks for data organization and reporting. He explains how to import data from QuickBooks to an external reporting template and apply it to renovation business and rehab costs. He concludes with details on the upcoming course launch.
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
QBO is jam-packed with really powerful reporting. But sometimes it’s just not enough for the unique nuances on your real estate investment business. In this exclusive video, I provide access to a full lesson from Real Estate Accounting Bootcamp! This lesson focuses on exporting your data to Google Sheets for dynamic visual graphs and reports. Check it out!
Think Real Estate Accounting Bootcamp might be for you?
Sign up for our VIP list for exclusive offers and pricing!
(0:00) Introduction to the episode and the real estate accounting boot camp course
(2:14) Importance and uses of QuickBooks in data organization and reporting
(3:50) Introduction and walkthrough of the external reporting template
(7:33) Importing data from QuickBooks to the reporting template and use of dynamic reporting
(11:05) Duplicating and renaming reporting templates for different projects
(13:21) Emphasis on QuickBooks as the primary data source and regular template updates
(14:47) Application of the template for renovation business and rehab costs
(15:39) Closing remarks and summary of the real estate accounting boot camp
(16:00) Introduction to the VIP list and details on the upcoming course launch
...more
17min
August 29, 2019 Setting Up and Applying Automatic Late Fees on Quickbooks Online
In this episode, Nick Baldo introduces QuickBooks online and its latest feature for rental businesses. He provides a detailed guide on managing and adding late fees on invoices in QuickBooks, explains account settings, and previews the beta version of the late fees feature. Nick walks through how to set up a flat fee and frequency for late fees, ensuring legal compliance. He also explains how to check late fee applications and the manual charging process, and how to configure grace periods for late fees. The episode concludes with a review of the benefits of automatic late fee additions for landlords and a plug for resources on incomedigs.com.
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
If you're in the Rental Property Management game, your likely charging your tenants late fees. After all, you get charged late fees on your bills/ mortgage payments....your tenants should carry that burden as well! With Quickbooks Online's new "Late Fees" feature, we can now set up late fees to automatically get added to past due invoices. Check out this video where I break down exactly how to set this up!
(0:00) Introduction to QuickBooks online and its new feature for rental businesses
(1:18) Detailed guide on managing and adding late fees on invoices in QuickBooks
(2:27) Overview of account settings and introduction to beta version of the late fees feature
(3:14) Step-by-step setup of flat fee and frequency for late fees with legal compliance
(4:16) Checking late fee application and manual charging process
(5:38) Configuring grace period settings for late fees in QuickBooks
(6:50) Review of automatic late fees addition and its benefits for landlords
(8:08) Conclusion and promotion of resources on incomedigs.com
...more
9min
August 23, 2019 How to use Quickbooks Online Projects to Manage Renovation Expenses
In this episode, Nick Baldo delves into the intricacies of QuickBooks Online's Project Tracking feature. He discusses project creation, cost logging, and employee management. Additionally, he explores time management, invoicing, and report accessing. Finally, he covers the transition from class to customer tracking.
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
"Projects" is a relatively new QBO feature. It serves as an all-in-one reporting feature for those of use who use QBO to track renovations, rehabs or any other project with a start/ finish date. In this video, I show you how to best utilize Projects in order to accurately track your construction expenses and make use of powerful built-in reporting!
(0:00) Introduction and Overview of QuickBooks Online's Project Tracking Feature
(1:27) Project Creation and Management in QuickBooks Online
(3:09) Logging Project Costs and Using Products and Services for Cost Tracking
(6:32) Employee Management for Project Cost Tracking in QuickBooks Online
(8:46) Time Management and Weekly Timesheets for Project Cost Tracking
(10:24) Invoicing and Realizing Gains from Flipping in QuickBooks Online
(12:30) Accessing Transactions and Project Reports in QuickBooks Online
(13:45) Transitioning from Class Tracking to Customer Tracking in QuickBooks Online
(14:16) Conclusion and Feedback Request
...more
15min
August 16, 2019 Quickbooks for Real Estate Investors- Classes Vs. Customers
In this episode, Nick Baldo explores the nuances of QuickBooks for real estate investors. He guides listeners on setting up invoices, customizing profit & loss reports, and using projects and class tracking. He also delves into the benefits of classes and understanding usage limits in QuickBooks.
End-to-End Accounting Course: https://www.incomedigs.com/reab2 (Enter Code YOUTUBE50 for $50 off!)
Super Power your Virtual Assistant: https://www.incomedigs.com/sva-waitlist
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 time to settle the ongoing Quickbooks/ Real Estate debate! How do you separate project-specific reporting? By customer or by class? Here I discuss the pros and cons of each strategy while ultimately delivering my personal recommendation...(Hint....the customer is always right!)
(0:00) Introduction and Overview of the Episode Topic
(1:28) Setting up and Using Customer Invoices in QuickBooks
(2:58) Creating and Customizing Profit and Loss Reports in QuickBooks
(4:06) Exploring the Use of Projects and Class Tracking in QuickBooks
(7:22) Advantages of Using Classes in QuickBooks
(9:58) Understanding Usage Limits in QuickBooks
(10:23) Using Classes to Differentiate Areas of Business
(11:01) Closing Thoughts and Contact Information
...more
12min
August 09, 2019 Quickbooks Online for Real Estate Investors- Setting Up Rehab
In this episode, Nick Baldo discusses how to set up a house flipping project in QuickBooks. He explains how to track project income, costs, and rehab expenses. He also dives into the detailed tracking of these expenses using products and services, and how to view these details in QuickBooks. The episode concludes with resources available at incomedigs.com.
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
In direct response to an audience question (thanks Andy from TX!), here’s a step by step guide for setting up Quickbooks Online to track your rehabs. Learn how to set up your Chart of Accounts, utilize “Projects” and ultimately track your construction expenses!
(0:00) Introduction and Focus on Setting Up Real Estate Business for Flipping
(1:24) Utilizing QuickBooks for Real Estate Projects
(2:44) Setting Up a New House Flipping Project in QuickBooks
(4:23) Tracking Project Income and Costs in QuickBooks
(8:07) Adding and Tracking Rehab Expenses in QuickBooks
(10:06) Detailed Tracking of Rehab Expenses Using Products and Services
(13:16) Viewing Project Details and Costs in QuickBooks
(14:42) Conclusion and Resources Available at incomedigs.com
...more
16min
July 25, 2019 Quickbooks Online for Real Estate Investors- Translate an HUD to QBO
In this episode, Nick Baldo delves into real estate accounting, offering a comprehensive QuickBooks tutorial. He explains fixed asset accounts, property closing journal entries, managing property tax credits, and understanding finance charges. Further, he discusses how to add expenses, tag them to a property, record total property value, and handle complex HUD recording scenarios. The episode concludes with additional resources on incomedigs.com.
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
The most common question regarding REI accounting: “How to translate an HUD?” Here it is! A step by step guide to recording the purchase of property!
(0:00) Introduction to Real Estate Accounting and QuickBooks Tutorial
(2:40) Detailed Explanation of Fixed Asset Account
(5:07) How to Create Journal Entry for Property Closing
(9:28) Management of Property Tax Credits in QuickBooks
(11:59) Understanding Finance Charges and Amortized Closing Costs
(14:26) Procedure to Add Expenses in QuickBooks
(15:51) Tagging Expenses to a Property in QuickBooks
(17:16) Recording Total Property Value
(17:35) Complex HUD Recording Scenarios Discussion
(18:16) Conclusion and Additional Resources on incomedigs.com
...more
19min
July 19, 2019 Quickbooks Online for Real Estate Investors- Accepting Payments from Tenants
In this episode, Nick Baldo discusses managing invoices in QuickBooks, recording payments, and handling unreconciled deposits. He demonstrates how to handle online payments via ACH and check payments. He also explores how to match deposited money with banking transactions, batch deposits, and the benefits of connecting checking and credit card accounts. The episode concludes with an invitation for audience feedback and references to Income Digs resources.
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
We all love QBO to manage our rental business. The best part is getting paid! This video demonstrates how to properly account for these rental payments to keep your business organized and your cashflow humming!
(0:00) Introduction and overview of managing invoices in QuickBooks
(1:17) Handling unreconciled deposits and recording payments in QuickBooks
(2:56) Demonstration: Online payments via ACH and handling check payments
(5:42) Matching deposited money with banking transactions
(8:00) Batching deposits and matching them with banking transactions
(10:21) Recap: Benefits of connecting checking and credit card accounts
(10:57) Closing remarks and invitation for audience feedback
(11:32) Income Digs resources and website reference
...more
12min
June 20, 2019 Quickbooks Online- How to Manage Multiple Businesses within one Subscription
In this episode, Nick Baldo introduces an advanced QuickBooks technique for managing multiple businesses. Topics include discussion with tax professionals, enabling location tracking, assigning expenses, generating reports, and the importance of consistent categorization. He also covers maintaining a balance sheet, branding considerations, and offers advice for using this technique.
End-to-End Accounting Course: https://www.incomedigs.com/reab2 (Enter Code YOUTUBE50 for $50 off!)
Free Download: https://www.incomedigs.com/chart-of-accounts
Visit our Official Website: http://www.incomedigs.com
One of the major frustrations associated with Quickbooks Online is the inability to handle multiple businesses. Technically, you would need separate subscriptions for each business. This can be very frustrating for those of us with multiple businesses....all of which do similar things. I've come up with a workaround using QBO "Location Tracking"....check it out here!
(0:00) Introduction to QuickBooks advanced technique for multiple businesses
(1:38) Discussing the technique with your tax professional
(2:37) Enabling and using QuickBooks location tracking feature
(5:29) Creating and assigning expenses to different businesses
(6:06) Generating a Profit and Loss report for all businesses
(8:20) Displaying Profit and Loss split by business
(9:13) Customizing reports for individual businesses
(10:02) Importance of consistent categorization in QuickBooks
(10:48) Maintaining a Balance Sheet by business
(11:33) Considerations for branding and sales forms
(12:04) Concluding remarks and advice for using this QuickBooks technique
...more
13min
April 12, 2019 Quickbooks Online- Construction Loans and Budget
In this episode, Nick Baldo offers insights on managing real estate investments using QuickBooks. He discusses handling draws and budgeting, differentiating projects, logging property purchases, and dealing with liabilities. Further, he explores managing property improvement loans, creating assets, bank reimbursement, and the importance of a chart of accounts. Lastly, he delves into using the budgeting feature for rental properties.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
racking Rehab Expenses in Quickbooks Online: https://www.youtube.com/playlist?list=PL89qBCL2vU2uG03qnF_SPUw_NX7ZtauNQ
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 common to finance your rehab with a private or conventional construction loan. Learn how to track this loan and subsequent draw payments. PLUS - we start the conversation on the pros and cons of QBO budgets.
Follow us on Facebook: https://www.facebook.com/IncomeDigs/
Follow us on Instagram: https://www.instagram.com/incomedigs/
(0:00) Introduction to the episode and subjects to be covered
(0:30) Dealing with draws and budgeting features in QuickBooks
(1:17) How to purchase a new property and differentiate projects in QuickBooks
(2:43) Property purchase: logging a journal entry and payment breakdown
(4:38) Handling liabilities and balance sheet for property purchase
(6:23) Managing loans for property improvements and creating new assets
(8:55) Journal entries for bank reimbursement and introduction to budgets in QuickBooks
(10:32) Chart of accounts: uses, benefits, and restrictions
(14:11) Utilizing the budgeting feature for rental properties
(14:31) Conclusion and preview of future topics
...more
16min

FAQs about Income Digs:

How many episodes does Income Digs have?

The podcast currently has 118 episodes available.