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HOW TO USE QUICKBOOKS FOR PROPERTY MANAGEMENT?


devin45

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QuickBooks is pretty good for property management accounting.You can create invoices, pay bills, manage accounts, reconcile accounts, and QuickBooks has the most robust reporting of virtually any accounting platform, as expected.The first problem arises when you try to set up your rental properties in QuickBooks.In the next section, we’ll go through step-by-step instructions for doing this, so don’t worry.However, it’s important to understand that we’ll be using a sort of simple workaround, as QuickBooks isn’t designed for property accounting.Well, there are no ‘properties’ or ‘tenants’ in QuickBooks, or any of the other typical property accounting items.So, you have to use things like QuickBooks’s ‘Customers’ category for your properties and use ‘Vendors’ for your owners.Other problems arise when you want to optimize any other area of your Quickbooks property management.

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