All Forum Posts by: Emily Di

@David F. What was the outcome? I am in a similar situation, trying to get a better understanding of the process. 

Hi - I apologize if someone already posted this. I can't figure out how to search the 11 pages of comments. I had a difficult time deciphering the language of the bill and I found this breakdown online which gave me a much better breakdown of the law, written in layman's terms!!!

https://pfar.org/wp-content/uploads/2019/09/Legal-Q-and-A-AB-1482.pdf

What it doesn't address clearly and what I am trying to understand is if things like pet rent or utilities are considered gross rent. Does anyone know? I don't currently charge for these items, but I have been planning to and now I am wondering if the bill impacts that. Again. apologies if this has been addressed. 

Thanks @Michael Plaks and @Dan V. I am starting to reorganise the CoA. I do use classes. I wasn't using locations, but I checked into this after Michaels post. Unfortunately Plus is limited to 40 classes and locations combined. So I wouldn't be able to put the LLC's into one account because I have more units than this between them. I only wish there were some sort of bulk edit to the chart of accounts. I appreciate everyone's help. In the meantime I may also revisit Xero and check out Wave. It's a lot of effort to reorganize a CoA so this might be time to change platforms. I don't want to be stuck doing something like this again should QBO get the whim to limit # of allowed classes. As much as I love the software, they really lost my trust with this move.

@Michael Plaks going to check this out right now. This is an excellent tip about the locations and reporting. 

@Brent Paul I did try Xero before I went to QBO but at the time they didn't have enough tracking categories which is how we organize properties. Maybe that's changed or maybe there is another way to track per property. I'll check back into it or would love to hear ideas. 

Thank you @Carl Fischer. I will look into Summit. @Michael Plaks I am over the new limit of 250 Accounts due to depreciable asset accounts. Each unit rehab adds about 10 assets, for which QBO creates a main account, accumulated depreciation account and original price account for. So easily one single unit = 30 accounts. I can fix this by cleaning up those fully depreciated and by just doing broad balance sheet categories in quickbooks (ie - all Land instead of the Land broken out per property). But the entire reason I came to quickbooks was to have more granularity. So that is why I wondered about a software for asset tracking. When I search the web it brings up ones more geared to companies tracking their tech purchases, etc. 

I'm over the new QBO usage limits due to depreciable assets. Is anyone in the same boat and if so what are you doing about it? I have 4 QBO accounts so the idea of paying $150x4/month for the new "Advanced" QBO account is not justifiable. I really prefer to stay cloud based. I thought of going to desktop, but if I did I would like to host it somehow. I don't like the idea of all my business data solely on my laptop. I just feel very stuck and frustrated that Intuit won't even us to year end before they cut us off. What alternatives should I pursue?