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L
LS Maintenance
November 18, 2018

Property Developer

  • November 18, 2018
  • 2 replies
  • 0 views

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.

      2 replies

      JackS
      JackS
      Level 3
      November 20, 2018

      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

      L
      LS MaintenanceAuthor
      November 20, 2018

      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.

        E
        EmmaM
        Level 10
        November 22, 2018

        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 links:)

         

        Kind regards

         

        Emma

          G
          GeorgiaC
          Level 13
          April 27, 2020

          Hi Valentina1, thanks for joining this thread - is there anything we can help with? 

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