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Updated 9 months ago on . Most recent reply

User Stats

65
Posts
13
Votes
Grant Francke
  • Investor
  • Adams, NE
13
Votes |
65
Posts

Buildium and Quickbooks work flow

Grant Francke
  • Investor
  • Adams, NE
Posted

Does anyone here use Buildium for property management and Quickbooks for accounting?  I'm looking to see what everyones workflows are for each month.  I like both products and they both have there place in our business, but looking for a way they can work together more, maybe eliminating the duplicate post each month.

Thanks!

Most Popular Reply

User Stats

50
Posts
10
Votes
Aziz Usmanov
  • Property Manager
  • Fargo, ND
10
Votes |
50
Posts
Aziz Usmanov
  • Property Manager
  • Fargo, ND
Replied

will this help anyone who uses property managers and keeps QB for taxes, mortgage, amortization and depreciation?

A service that does the following: 

1. Connects chart of accounts items of your QB with you PM’s  Buildium’s chart of accounts. 

2. Once link is created. Property manager pushes property statements to your QB as a journal entry. 

3. Journal entry credits any income and debits any expenses that are in Buildium. 

4. That journal entry also debits a special Asset account “Due from PM” that decreases that asset and inscreases when PM direct deposits and the transaction matches as deposit on “Due from PM”. 

This automates the workflow of QB and Buildium. 

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