Entering Property Management statements into Quickbooks Pro
Hello!
I am trying to set up Quickbooks Pro in the most efficient way possible, but where I can easily get to all information that I might need too. I have entered my property management statements into Quickbooks by editing the deposit amount that is on my bank statement. Inside the deposit, I enter all the collected rents as deposits and also make negative transactions for all the bills my property manager paid for me such as utilities, contractors and the management commission. The advantage to doing it this way is that it is easy to reconcile because the deposit matches the bank statement, but the disadvantage is that the information doesn't transfer into the Vendor center. I would really like to be able to be able to go into the vendor center and see when I have paid each vendor and how much.
Is there a way to have all the transactions in my management statement be contained in the one deposit for easy bank reconciliation AND have each bill paid by my property manager show up in my vendor center?
I assume I have to choose which one I would prefer, but I would appreciate any tips that anybody might have. Thanks so much!