Bookkeeping on multiple propertys in quickbooks

[Dustin Barr]

I have 2 rental properties. When using quickbooks do you normally set up separate accounts for each rental property, or use one file and have accounts for each (Such as insurance, the sub-accounts for each property?

Thanks in advance for your help!!

[J Scott]

One QuickBooks file for each business entity.  If you have multiple properties within a business entity, they all go into the same QB file and you distinguish them by assigning each a different class.

So, my property at 123 Main Street might be assigned the class "Main Street" and my property 456 Smith Road might be assigned the class "Smith Road."  Then, when I want to see the P&L of a particular property (for example), I can go into Reports and then choose "P&L By Class."