Anyone using Quickbooks ONLINE for rental bookkeeping?

[Remmy Vernon]

I've used QB for years for my personal business and recently upgraded to the online version. For that business, I like it and it suits my needs.

Our bookkeeper for the rental business is retiring. She used Quicken 2002. I managed to get everything imported in a trial version of QB desktop, then into a QB online account. What a mess! Everything looked good in the desktop version, but once imported into the online version, I was lost. and I am familiar with the online version because of I use ot for my design business.

Anyways, every single transaction was defaulted to either an open transaction, or open invoice. I realize you are supposed to match all transactions in the online version. But it doesn't seem that simple to me.

Example: Grass cutting expense for September shows as a refund being due ( in the open transaction that the online version defaulted it to )  to the vendor who performed the service. Vendor was already paid by check. I need to match it to get it into my check registry. But If it shows as a refund, isn't that going to make a mess of things if I match it?

I'm so bummed. I am thinking I should ditch the online version. Just curious if anyone else has had any luck with the online version?

[Jerry Johnson]

@Remmy Vernon I'm going through the same thing now with same scenario, my accountant retiring, but what he did was import the chart of accounts into the online version for me, along with past accounting and what I've been doing is matching transactions from my bank statement with the correct accounts from the chart of accounts. When ever in doubt I text my accountant with questions and he has been very good in helping me transition.   Also I am taking an accounting course which has helped me out in understanding the basics.  What ever you do keep your accountant or whom ever is going to be doing your taxes in the future close by, because as my accountant keep telling me "junk in junk out".  I plan to pay him the usual fees while he helps me transition into doing the books through QBO. I'm guessing it should take me to the end of the year to get partially comfortable with it. Good luck