I'm totally new to quickbooks on line. I am a landlord and own HMOs. I self manage some of them and others are managed via a letting agent. I'm totally unclear about how I should set up each house and the tenants. Much of the information I've read is from the perspective of me being a letting agent which I'm not. I need to see the running costs for each property. I wondered about setting up each property as a location (which seems to make logical sense) but can't find any landlord who has done it this way. Regarding tenants (customers!) I've read about customers and sub customers and classes and jobs and projects!!! My head is ready to explode. It should be so simple.......I have a house, it has x6 bedrooms. Each bedroom is occupied by a tenant who pays me monthly rent! I want to be able to report on income either by room (within each house) or by tenant. How do I set up the rent? I'm assuming it's a service? How do I set up the tenants? How have other landlords set up their system? Thank you
If you activate the Classes options in QB you can then set up Classes for location or people or businesses you name them what you want. So you could use a property name and run reports on that particular property.
If you activate the Classes options in QB you can then set up Classes for location or people or businesses you name them what you want. So you could use a property name and run reports on that particular property.
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