All Forum Posts by: Cathie Kovacs

I’m not clear why you would want this report that you’ve described anyway since it’s not actually cash flow. 

I’d suggest a transaction detail report on your bank accounts, filtered for Deposits only. Might get you what you want. 

Sorry...QuickBooks gets my vote. Use classes to track your properties and units. Works great. 

You would sign as an agent of the LLC, not as yourself the individual

I’m dealing with the same issue. I sent a certified letter stating my intent when my verbal request (with notice) was denied. 

 Thanks Drew. Any particular underlayments you’d recommend?

Anyone doing an underlayment for sound under the LVP?

Inventory is sold to create revenue (think retail). Furniture in a furnished apartment is not inventory but an asset. Inventory is a special type of an asset and doesn’t apply to rental real estate. 

As the owner of a bookkeeping firm and someone that uses QuickBooks all day, every day, I’m going to respectfully disagree with Josh. 

You book your gross rent and then put negative amounts in the deposit screen to reflect the expenses paid by your PM. Net deposit amount to your bank account should match the net check received by you. 

Your net income will be correct and OpEx will be correct when done this way. 

I’d say QuickBooks, yes. Easier to grow into. Use classes for each property. 

I’ve heard people in a similar situation offer weekly rent drafts to help a good tenant stay on track if budgeting & cash management are the issues.  Turnover is expensive.