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Quickbooks for Real Estate: Don't Make this Mistake
In this episode, Nick Baldo explores QuickBooks online for real estate, including how to set up and add new properties. He discusses the limitations of a one-dimensional chart of accounts and the benefits of transitioning to a two-dimensional chart. Nick also explains how to simplify your profit and loss account, the ideal number of accounts in QuickBooks online, and the role of fixed assets. The episode wraps up with an introduction to the Real Estate Account and Boot Camp and where to find free resources.
Real Estate Accounting: https://www.youtube.com/playlist?list=PL89qBCL2vU2sab5dEzpwJTZi0zTLjCDXJ
End-to-End Accounting Course: https://www.incomedigs.com/reab2 (Enter Code YOUTUBE50 for $50 off!)
Link to Advanced Amort Calculator: https://www.youtube.com/watch?v=1JiY_UUjPKY&t=940s
Free Download: https://www.incomedigs.com/chart-of-accounts
Visit our Official Website: http://www.incomedigs.com
Your Chart of Accounts is the backbone of your bookkeeping architecture. Don’t fall into the trap of creating a “one-dimensional” COA. Prepare your business to scale with a 2-dimensional Chart of Accounts.
(0:00) Introduction to QuickBooks online for real estate
(1:23) Setting up and adding new properties to accounts in QuickBooks
(6:53) The limitations of a one-dimensional chart of accounts
(9:18) Transitioning to a two-dimensional chart of accounts
(13:19) Managing scalability through a two-dimensional chart of accounts
(16:00) Understanding and simplifying your profit and loss account
(16:37) Warning signs and the ideal number of accounts in QuickBooks online
(17:09) The role of fixed assets in a two-dimensional chart of accounts
(17:22) Introduction to the Real Estate Account and Boot Camp
(17:48) Availability of free resources and getting in touch
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By Nick BaldoIn this episode, Nick Baldo explores QuickBooks online for real estate, including how to set up and add new properties. He discusses the limitations of a one-dimensional chart of accounts and the benefits of transitioning to a two-dimensional chart. Nick also explains how to simplify your profit and loss account, the ideal number of accounts in QuickBooks online, and the role of fixed assets. The episode wraps up with an introduction to the Real Estate Account and Boot Camp and where to find free resources.
Real Estate Accounting: https://www.youtube.com/playlist?list=PL89qBCL2vU2sab5dEzpwJTZi0zTLjCDXJ
End-to-End Accounting Course: https://www.incomedigs.com/reab2 (Enter Code YOUTUBE50 for $50 off!)
Link to Advanced Amort Calculator: https://www.youtube.com/watch?v=1JiY_UUjPKY&t=940s
Free Download: https://www.incomedigs.com/chart-of-accounts
Visit our Official Website: http://www.incomedigs.com
Your Chart of Accounts is the backbone of your bookkeeping architecture. Don’t fall into the trap of creating a “one-dimensional” COA. Prepare your business to scale with a 2-dimensional Chart of Accounts.
(0:00) Introduction to QuickBooks online for real estate
(1:23) Setting up and adding new properties to accounts in QuickBooks
(6:53) The limitations of a one-dimensional chart of accounts
(9:18) Transitioning to a two-dimensional chart of accounts
(13:19) Managing scalability through a two-dimensional chart of accounts
(16:00) Understanding and simplifying your profit and loss account
(16:37) Warning signs and the ideal number of accounts in QuickBooks online
(17:09) The role of fixed assets in a two-dimensional chart of accounts
(17:22) Introduction to the Real Estate Account and Boot Camp
(17:48) Availability of free resources and getting in touch