Add Class to an Existing QuickBooks File

By |November 30th, 2011|

Q: I adapted QuickBooks for real estate and property management as you suggested. I added the class tracking. Where do I go from here to separate my properties?

A: After adding class  tracking to your file, enter the Class for each and every transaction. Then check your reports -

Profit & Loss by Class
Profit & Loss Unclassified

If there is any amount in […]

7 Profit & Loss Reports for Your Business

By |October 26th, 2011|

QuickBooks comes with numerous reports but how are they useful if we don’t know how to read them? The Profit & Loss statement is a basic accounting statement along with the Balance Sheet, and Statement of Cash Flows.

QuickBooks includes the listed Profit & Loss reports. What is a Profit & Loss Statement again? Those of you who […]

Record Meal Expense by Property in QuickBooks

By |September 28th, 2011|

Q: How do I enter a client meal or that type of expense? I own and rent all my property and would like to list each property and the expenses of each but I have no idea how.

A: I would enter the meal expense as a check and use Class for all your properties.

Balance Sheet by Class Report

By |September 20th, 2011|

Q: Can someone explain why it would be beneficial to view the Balance Sheet by Class?

A: The Balance Sheet is a report that summarizes the financial position of a business. A balance sheet shows the value of your company’s assets, liabilities, and equity as of a particular moment in time. it is called a […]

Class Tracking

By |September 9th, 2011|

Q: I don’t see class list in my QuickBooks. Did I buy a wrong one?  I use QuickBooks to manage a rental properties company. What I should do if I don’t use this function?

A: Don’t worry! You did not purchase the wrong version of QuickBooks. The Class field is available for all versions of […]