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Updated over 8 years ago on . Most recent reply
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Quickbooks
I invest in commercial real estate and want to use Quickbooks to track my income, expenses, assets and liabilities. I am looking for resources for commercial real estate investors to enhance their use of Quickbooks. Are there any recommendations?
I already purchased and read Nancy Neville's book at mylandlordsbookkeeper.com I found it to be useful but geared toward residential real estate investors. For example, her proffered chart of accounts and items lists are not aligned toward a commercial real estate investor; also her templates do not fit well with a commercial investor. Still it was a useful resource.
I am interested in learning more about using Quickbooks for commercial real estate transactions such as how to expense CAM expenses to multiple tenants. I also am interested in how others track depreciation of properties that have segregated rates of depreciation. How do you use Quickbooks to create 10 year proformas (the Quickbooks 1 year budget is not my thing)? Should I set up and use the fixed asset manager and loan manager? What useful reports do people create and how often?
I watched the Quickbooks Training on-line seminars available via quickbookstraining.com. I listened to the Mastering Quickbooks 1 and 2 lecture series and the Accounting lecture series (about six days of lectures). They were all excellent background material on Quickbooks but obviously not geared toward Commercial real estate.
I have not yet purchased the landlordaccounting.com e-book. I am considering that as a next step. I am also considering Faust's book on fasttracconsulting.com but it is out of print and expensive.
Any advice on what to read next? I want to really master this as I value excellent records to help guide my investing decisions.
Thanks in advance.