Category: INVESTOR BOOKS

QuickBooks For Real Estate – Setting Up Multiple Entities

Posted on By Mike Butler

QUESTION from Steve:

Hello Mike,

Would you please give me some guidance.

To make sure I am of the correct mindset in reading the Investorbooks manual … on page 86 you mention if we are using single member LLC’s (which are a pass through entity as fax as the tax prep) we set them up on one set of Books … then does that mean that if we are not using single member LLC’s and instead have a Corp that files its own return and a Multi-member LLC(s) that files its own 1065 that these will each have their own set of Investorbooks?

And … if the Corp is on a fiscal year versus Calendar year end for taxes, does that make a difference as the way we would log the Fixed assets may be better using Fiscal Year versus Calendar year which may cause havoc with the other entities.

Thank you Mike,
Steve

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INVESTOR BOOKS, Multiple Entities

My Reports Don’t Look Right In QuickBooks Q&A

Posted on By Mike Butler

QUESTION from Sharon:

Hi Mike

I am the owner of your Investor Books PRO System software and have attended one of your seminars in KY a few years ago.  I did have a girl doing my books who is no longer helping me and I am STUCK!  I have a couple of questions that I can not seem to find the answer…

  1. How do I get an accurate report on what I actually took in on a property?  I can go to income by property report – and that’s fine – but when I compare that to my the income detail report – the numbers don’t match?  What I billed out isn’t important – it is what I actually took in (by property) that I am looking for?
  2. Once I can get my hands on the real amount of money I took in for each property – how do I take that income and  put it into Investor books so that I can see what my real bottom line is – ie income vs expenses…

I would appreciate it if you could point me in the right direction….

Thank you
Sharon B.

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INVESTOR BOOKS, Troubleshoot