Tag: QuickBooks Basics

QuickBooks Online Raises Price Again to $99 monthly and it does not work for investors

Posted on By wizard
QuickBooks Online Subscription Price $99 monthly


CAUTION: If you have already purchased QuickBooks Pro Desktop for PCs, Intuit is now forcing us to pay an annual licensing fee.

Intuit stopped selling the QuickBooks Pro Desktop for PC software. If you need to start from scratch, I highly recommend to purchase Quicken Deluxe.

Here’s a recent question received from a 20 year user of Investor Books and Tenant Tracking.

QUESTION: Hi Mike,

I took one of your RE course about 20 years ago and purchased Investor Books and Tenant Tracking.  QuickBooks has since gone to a subscription model and their latest cost is $999 per year.  That is getting excessive.  Have you migrated your system to QuickBooks online?   Just curious how you are handling things?  Just paying the exorbitant price?

Thanks, Patrick

ANSWER:  Patrick, 
Investor Books is a company file using QB Pro Desktop for PCs
Tenant Tracking is a company file using QB Pro Desktop for PCs

it's very ugly what QB did to all of us long time users.
after much research and meetings with Intuit, here's my recommendation:

For me and my business, I am staying with QB PRO Desktop for PCs and paying an annual licensing fee.
- this allows me to have as many company files as I want.
---  (Investor Books, Tenant Tracking, Education Company, TrusteeServicesUSA.com, and QuickBooksForInvestors.com)

I do NOT recommend using QB online because it will cost you a minimum of $160 per month
- Why? because online subscription allows only 1 company file per subscription.
- Investor Books would cost you $80monthly
- Tenant Tracking would cost you $80 monthly
- BUT the BIGGEST Reason, is the online versions are totally different and you can not upload your company file without having a boatload of errors that Intuit will blame it on you.

if the annual license is not up your alley, the best alternative is Quicken, the Deluxe, top of line version.

i guess if me and you owned Intuit and QB, we would like to see customers required to pay an annual licensing fee.

just curious Patrick, what version of QB Pro Desktop for PCs are you using?
Troubleshoot

What is Investor Books Pro?

Posted on By wizard

INVESTOR BOOKS PRO company file​

​• Keeps Track Of What You OWN and OWE, and Your INCOME & Expenses
​• Buy, Sell, Trade, Borrow, and Loan
​• Go 100% paperless – Keep It All in QuickBooks! 
      receipts, bank statements, deeds, mortgages, contracts, closing docs, etc. 
​• It Does Your Books As You Pay Bills and Make Deposits
​• Tax Time Preparation Is Done In Minutes, Not Days or Weeks. Simply Email to CPA
​• Investor Friendly Reports Already Set Up For You  – Simply Push A Button
​• Makes It Simple for LLCs, Corps, Partnerships, IRAs, and more
​• Residential, Commercial, Dirt, Single Family, Apartments, Mini-Storage, Marinas, Mobile Homes and more!
​• Ensures “Cash Method” of Accounting so you can capture every tax benefit!
​• “Post Office Method of Accounting” makes it brain-dead simple for YOU and Your CPA
​• Tracks Real Time Costs of Rehabs and Tenant Turnovers as they are happening…
           not weeks later after they are done when it is too late to make adjustments.
​• Tracks Real CASH FLOW by Property, by entity, by partnership(s) and more!
​• SAVES Your Precious and Valuable Time!
• Your Rock Solid Foundation Gives You Confidence to Do Any Size Deal Without Fear!

💡 NOTE
      To VIEW LARGER – CLICK ⛶​ on the lower right corner of the video

GETTING STARTED, What is Investor Books Pro?, HOW TO VIDEOS

What is Tenant Tracking?

Posted on By wizard

TENANT TRACKING company file​

Is Your Landlording and Property Management Machine

• Keeps Track of Everyone Who Owes You Money… Tenants & Loan Customers
• Makes You Look Professional, even with 1 property… Perception Is Reality!
• Used Properly, You will Consistently Get PAID OVER 100% of your rents!
• WORK ORDER  gently forces your Tenants to gladly pay you for damages they caused
• Tenants will pay late charges without phone calls and without complaining
• Security Deposits made clean and simple.
• Tenant Turnovers are efficient moving out tenant pays for all of their damages

💡 NOTE
      To VIEW LARGER – CLICK ⛶​ on the lower right corner of the video

GETTING STARTED, What is Tenant Tracking?, HOW TO VIDEOS

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