TENANT TRACKING – Getting Started QB Pro 2016
do this first
4 minute video – To VIEW LARGE, click lower right corner on video
Click to Access Video or Read More
My name is William and I am Jim’s bookkeeper since February. Since that time, I have updated the QuickBooks company files for his three companies and have been processing invoice payments through the QB accounts payable system and maintaining the cash balances, but we have some catching up to do on the accounts receivable side. I have several months worth of invoices to post and receipts to receive against these invoices (right now the receipts are just booked as deposits hitting Cash and Rental Income, A/R account is not being used yet). With regards to QuickBooks Pro, should I enter the invoices for the tenants using QuickBooks and process the payments using the normal A/R process, or do I need to enter the invoices using QuickBooks Pro (basically a chicken or the egg question, does QB feed from QB Pro or visa versa)?
William, got your question…
first of all, you are making it way more complicated than needed.
(many old school accountants and CPAs have a hard time using QuickBooks
because they can not grasp that one company file can handle many companies)
This system uses 2 Company files
The first company “Investor Books” is used for everything each company owns (assets) and everything each company owes (liabilities)
Here are some questions from Bill about getting started.
Bill wrote, I need training specifically on Tenant Tracking as follows:
- How do I change the memorized transactions to change things like new tenant name, rent rate other variable?
– you must create a new transaction..then memorize it
- How do I use the vendors set up in QuickBooks for paying bills in Tenant Tracking? Click to Access Video or Read More