Lets start by saying this is quickbooks desktop.
I have an airplane rental business. Currently the way I track income/expenses for different aircraft is I have the individual aircraft setup as separate "jobs" with the "customer" being the facility that I have them being stored at.
When I book a deposit or expense I am able to reference the "job" (plane). For reporting this has been flawless and works great.
My question is I want to be able to track individual renters and report on monies spent. Right now I just create a deposit.. book the rents to airplane rent as the account with the customer:job being that aircraft and then in the memo section type the renters name so I have something to go back to. But I'd love to be able to generate a report that says oh Joe Renter spent $500 last month.
Have you explored the class tracking feature?
Thanks for the detailed explanation, @watkinsaviation. Running renters reports is just a few clicks, and you'll be an expert in no time.
I'll tell you what specific report you can run to review your renters spent in QuickBooks Desktop.
To check your renter transactions, I'd recommend running the Customer Balance Detail, Transaction List by Date, or Transaction Detailed by Account reports one at a time. Then customize it to show the specific data.
Proceed as follows:
For more details about customization, check out this link: Customize reports in QuickBooks.
Moreover, visit these articles below on how to memorize, schedule, modify reports preferences, and supervise property management income in QuickBooks:
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Sorry for late reply. THANK YOU. Would you use classes to track the customers or the rental fleet? Right now I am using customer:job to track the fleet. So any expenses or deposits are all booked under that customer:job. I suppose I could create classes for each renter and that would make it easier so I dont have to go back and change every transaction YTD.
Thank you for your quick response, @watkinsaviation.
Let me share some light on the benefit of class tracking in QuickBooks Desktop.
Yes, you're right. We use class tracking for rental properties. It allows you to determine which properties are the most (and least) profitable. Also, by tracking all assets related to a specific property over time, you can easily calculate the net book value of the property.
Furthermore, you can consult your accountant to help you organize your books accurately.
Feel free to read the article for more details: Set up and use class tracking in QuickBooks Desktop.
Here's an article on how you filter, sort, and total them by class: Sort report by class in QuickBooks Desktop.
Please let me know if you have any other concerns about your transactions. If you have any queries about QuickBooks reports or taxes, I'll be happy to listen.