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Need assistance with initial setup of Quickbooks for property management of residential rental properties.
Currently I own eleven rental properties. I have year end statements for 2010, 2011, 2012 and monthly statements for 2013. I would like the chart of accounts setup and the data entered so that I can get combined reports for all the properties or individually showing performance of them.
The number of transactions on these properties are typically minimal, limited to Rent received, property taxes, repairs and mortgage payments. Some were purchased in the period in question so there are a few deal related expenses.
I additional desire to have a report showing each month of the current year and prior year end periods. Also a balance sheet showing the individual property values which I can provide.
You can either enter the data from scratch or use what I have done with the existing data in the form of journal entries whichever is easiest.