What’s in the chart of accounts of a property management company using QuickBooks desktop. Most of the accounts are the same accounts that any typical company would use. However, there are some accounts that are specific to property management companies. The income they earn if for service, not rental service. Therefore, they need a revenue account to record income form property management services. They also need special accounts to represent the amount of collected rent that is payable to the landlord clients. That account is the special account because it must be equal to the total of each individual landlord client’s payout. It is a liability account when you report your numbers. However, in QuickBooks software, functionally speaking, you need to make this “payouts” account an “accounts receivable” type of account. This will enable the account to match the total of all client’s balances. People with experience understand the difference between QuickBooks account type and account type in accounting 101. You can tell someone does not know what they are talking about if they object to this method. It works so beautifully, and you will see in future videos how great and perfect this is.



The full desktop management playlist is here and it’s free for all property managers to learn……….

   • QuickBooks For Rental Property Servic...  


This playlist was created to prove that QuickBooks desktop is the absolute best property management software ever!! Any property management company or any company that gives rental property service to a real estate rental company, needs to us QuickBooks desktop in exactly the way these videos show in order to keep records of property management financially, regarding each area of property data. If you operate as a real estate rental management company, then you manage the property for ten owners and the landlords are your customers as continued clients. Their tenants are also your continuing clients until they move out. The property management company must: collect rent, pay property expenses, and charge a property management service fee for themselves before releasing or remitting the money to their property owners with a monthly deposit statement. If those are your property management company procedures, then you will absolutely benefit from using QuickBooks desktop and following this playlist stepbystep.


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