I'll share ways on how we can handle this, omllc1205.
We can use the Tags feature to track rental properties separately. This helps us track things the way we want without affecting our books. First, let's turn on this feature. Here's how:
- Go to the Gear icon and select Account and Settings.
- Select the Sales tab.
- In the Sales form content section, turn on Tags. Then select Save.
- Select the Expenses tab.
- In the Bills and Expenses section, turn on the Show Tags field on expense and purchase forms. Then select Save.
- Select Done.
Then, start creating tag groups. We can add this to a new or an existing transaction by opening an invoice or expense. Then, click the Tags field, and select one of your groups to add the tag. We can use the articles below for our guides:
Another way that we can consider is using a third-party application. If you're looking for this option, we can visit this link: QuickBooks Apps Store. From there, we can find different apps that are compatible to work with QuickBooks Online.
The last option that I can share is to use QuickBooks Online Advanced. This plan is good for property management. Let's visit and read more in this article to get some ideas: QuickBooks Online Advanced for real estate property management, Part 1: Overview and setup.
Those are ways to handle different rental properties separately. We can check these articles to manage reports in QBO like, the Profit and Loss by Tag Group report to see how specific areas of your business are doing.
Stay in touch if you have other concerns about QuickBooks Online. I'm always here to share the correct process of handling data in the program. Take care and have a good one!
