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Seller Financing- How to account for Notes Receivable in Quickbooks Online
In this episode, Nick Baldo delves into seller financing, discussing its benefits and how to account for it. He offers a thorough review of a previous flip project, details on preparing property for sale, and advice on dealing with realized gains. Listeners will also learn to finalize transactions and conduct post-sale reviews.
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
Seller Financing is a great strategy for long term, passive income. But how do you account for Notes Receivable in Quickbooks Online? This video demonstrates exactly that! Learn how to record the sale and record the loan to your Balance Sheet!
(0:00) Introduction to seller financing and its benefits
(1:21) Review and accounting of previous flip project
(3:10) Understanding when and how to transfer costs to balance sheet
(5:59) Preparing property for sale and recording the sale
(8:29) Dealing with realized gains and recognizing revenue
(10:46) How to account for cash received at closing
(12:02) Finalizing the transaction: A step-by-step guide
(12:50) Post-sale project review and wrap up
(13:23) Conclusion and preview of upcoming content.
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By Nick BaldoIn this episode, Nick Baldo delves into seller financing, discussing its benefits and how to account for it. He offers a thorough review of a previous flip project, details on preparing property for sale, and advice on dealing with realized gains. Listeners will also learn to finalize transactions and conduct post-sale reviews.
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
Seller Financing is a great strategy for long term, passive income. But how do you account for Notes Receivable in Quickbooks Online? This video demonstrates exactly that! Learn how to record the sale and record the loan to your Balance Sheet!
(0:00) Introduction to seller financing and its benefits
(1:21) Review and accounting of previous flip project
(3:10) Understanding when and how to transfer costs to balance sheet
(5:59) Preparing property for sale and recording the sale
(8:29) Dealing with realized gains and recognizing revenue
(10:46) How to account for cash received at closing
(12:02) Finalizing the transaction: A step-by-step guide
(12:50) Post-sale project review and wrap up
(13:23) Conclusion and preview of upcoming content.