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Active Member

Property Developer

I have used QB online in the past for inventory management (wholesale company). However, I now run my own business as a property developer. Any help with how I found log purchase/sale of properties from an auction, also how to log expenses against it etc.

3 REPLIES
Community Host

Re: Property Developer

Hi @LS Maintenance thanks for posting to the community.

 

May I ask what QBO  package you're on so I can look to help?

 

Thanks

Active Member

Re: Property Developer

I haven't purchased/subscribed as yet, but the package I was thinking is QuickBooks Online Essentials as that is for small businesses and I am setup as a LTD company. I have purchased my first property and want to ensure my expenses can be assigned to that (probably by uses classes?).

 

I don't think at this stage I will be doing more than two renovations/properties per year.

QuickBooks Team

Re: Property Developer

Hi LS Maintenance

 

You could certainly use class tracking on those expenses for the property and for  income on the property.You will then be able to run reports on the class for example profit and loss by class.I have included a link on class tracking here You could also look at using projects and creating a different project for each property and add expenses,invoices,billable time etc to the project and run project reports.More information can be found on projects here

 

Those functions are both available in our Plus package however if you want to test this without taking out the product we do have a test company on the Plus package with data in which you can add projects or classes to, here is the link. The test company is one used by all customers wanting to test so it will reset the data when you sign out of it but it is a good way to test things(You can turn on class tracking and projects in the cog in the top right and then go to account and settings and advanced

 

Any questions at all let us know

 

Sorry for all the linksSmiley Happy

 

Kind regards

 

Emma