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QuickBooks Tips Blog

How to Setup a Mortgage in QuickBooks

Posted by Alex Viau on Jan 4, 2013 11:43:00 AM

When I started my first foray into QuickBooks I was in my early 20' and just understood QuickBooks basics.  Now, please don't get me wrong, I have a good handle on my finances for someone in there 20's but I'm in no position financially or personally to be buying a house. Terms associated buying a house such as escrow, county tax payments, and PMI were slightly foreign at first and took some questions to get a good handle on it. Nearing my 30's now and using QuickBooks daily it's a question that I get often, how do I book my home in QuickBooks?

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Topics: QuickBooks, QuickBooks Tips, QuickBooks Blog, QuickBooks consulting, QuickBooks Basics, Real Estate Bookkeeping, QuickBooks Memorized Reports

QuickBooks Pointers For Utah Real Estate Investors

Posted by Joe Mazur on Nov 28, 2012 7:13:00 AM

If you flip houses, rehab them, or purchase them for long term rentals, then you know the real estate business is full of highs and lows.  The best way to be prepared for the swings is to have an accurate financial reporting system.  Not all Utah Real Estate Investors have a bookkeeping system that is set up for the long haul.  Getting your Chart of Accounts set up in QuickBooks is the initial step to getting your system optimized working in your favor.  Sometimes this initial step is ignored and the bookkeeping system unravels quickly.  Investors may focus on the purchase price and sale price of the property and ignore the small dollar amount transactions such as rehab costs, utilities, financing charges, and HUD costs.  Since your business lives and dies by the profit of each property, it would make sense to track each transaction to the penny.

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Topics: QuickBooks Tips, Accounting Services, Bookkeeping Processes, Real Estate Bookkeeping, outsourcing bookkeeping, outsourcing bookkeeping