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dmathers19
Level 1

I have a rental real estate business and would like to run a separate P&L for each property. How do I do that?

I made a class for each property, then changed the class for each income and expense account.  Now when I run the P&L report by class it shows each class under the account. I want it to show the account under the class.

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Best answer December 10, 2018

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qbteachmt
Level 15

I have a rental real estate business and would like to run a separate P&L for each property. How do I do that?

"it shows each class under the account. I want it to show the account under the class."

"A P&L by class will have a column for each class and a total column.  With accounts down the left side just like any other P&L."

The problem I have with Enterprise, is it allows this reversal. It allows you to class names and accounts, instead of Activities.

Instead of linking Accounts to Class, you want to Class Track your accounting transaction Details.

It also helps to set up the Properties as Customer, and tenants as Jobs.

And, if you manage property for other owners, they will also be Vendor Names, and they can be Customers, too, like this:

Customer:job:subjob = Owner:property address:Tenant



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4 Comments 4
qbteachmt
Level 15

I have a rental real estate business and would like to run a separate P&L for each property. How do I do that?

"it shows each class under the account. I want it to show the account under the class."

"A P&L by class will have a column for each class and a total column.  With accounts down the left side just like any other P&L."

The problem I have with Enterprise, is it allows this reversal. It allows you to class names and accounts, instead of Activities.

Instead of linking Accounts to Class, you want to Class Track your accounting transaction Details.

It also helps to set up the Properties as Customer, and tenants as Jobs.

And, if you manage property for other owners, they will also be Vendor Names, and they can be Customers, too, like this:

Customer:job:subjob = Owner:property address:Tenant



View solution in original post

Anonymous
Not applicable

I have a rental real estate business and would like to run a separate P&L for each property. How do I do that?

A P&L by class will have a column for each class and a total column.  With accounts down the left side just like any other P&L.  What is the report you want?  Hard to tell...

BizPro
Level 3

I have a rental real estate business and would like to run a separate P&L for each property. How do I do that?

Hello all,

 

We do this every day in our practice for investors and for managers of properties for investors.

 

Of course, classes can be used but there are also some easier ways for non-bookkeeper, non-accountant users that will provide all the tracking/ P&L and Balance Sheet reporting easily in QBO PLUS.

 

Best regards and profitability,

 

Michelle Hunnewell

BizPro Financial

[email address removed]

 

BizPro
Level 3

I have a rental real estate business and would like to run a separate P&L for each property. How do I do that?

We change Customers to Clients (or Property) then use Projects. We prefer not to use classes.


We get nice clean P&l's and Balance Sheets for our clients.



 

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