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Quickbooks categorizing expenses for different rental properties

I am using Quickbooks desktop to manage two different rental properties.  There is a generic list of expenses that Quickbooks generates and I can create my own expenses as well.
 
My question is how can I designate some expenses for Property1 and the others for Property2.
 
So for example, say I have separate Cleaning & Maintenance Expenses for the properties.  How can I designate some Cleaning & Maintenance Expenses for Property1 and others for Property2.
 
There has to be some kind of bucketing I can do so I am working in Property1 or Property2.
 
Thanks!!!
Solved
Best answer a month ago

Accepted Solutions
QuickBooks Team

Re: Quickbooks categorizing expenses for different rental properties

Hi branimal,

 

I've got some information about designating expenses. Let me share them with you so you can get started.

 

If you record your expense under the Expenses tab, you can use the Class column to designate per property location. However, if you record it as an inventory item, you can use the Site or Location option. You'll just need to turn it on the preferences.

 

To use the class:

  1. In your bill, click the Class drop-down and select Add new.
  2. Enter your property in the Class Name field.
  3. Click OK.
  4. Click Save and Close.

To use as an item:

  1. Click Edit, then Preferences.
  2. Click Item & Inventory, then click Company Preferences.
  3. Click the Advanced Inventory Settings.
  4. Click either Multiple Inventory Locations or Site Operations tab.
  5. Click OK. Then, Done.
  6. In your bill, click the Items tab.
  7. Create an inventory item for your cleaning services and use your cleaning expense account.
  8. Under Site column, click Add new to add your property locations.
  9. Click Save and Close.

Please see attached screenshots below.

 

You can read these handy articles for details about: 

You can also visit our page about inventory and projects for some help articles for your future tasks.

 

Drop a comment below if you have follow up questions. I'd be around for you.

 

 

View solution in original post

2 Comments
QuickBooks Team

Re: Quickbooks categorizing expenses for different rental properties

Hi branimal,

 

I've got some information about designating expenses. Let me share them with you so you can get started.

 

If you record your expense under the Expenses tab, you can use the Class column to designate per property location. However, if you record it as an inventory item, you can use the Site or Location option. You'll just need to turn it on the preferences.

 

To use the class:

  1. In your bill, click the Class drop-down and select Add new.
  2. Enter your property in the Class Name field.
  3. Click OK.
  4. Click Save and Close.

To use as an item:

  1. Click Edit, then Preferences.
  2. Click Item & Inventory, then click Company Preferences.
  3. Click the Advanced Inventory Settings.
  4. Click either Multiple Inventory Locations or Site Operations tab.
  5. Click OK. Then, Done.
  6. In your bill, click the Items tab.
  7. Create an inventory item for your cleaning services and use your cleaning expense account.
  8. Under Site column, click Add new to add your property locations.
  9. Click Save and Close.

Please see attached screenshots below.

 

You can read these handy articles for details about: 

You can also visit our page about inventory and projects for some help articles for your future tasks.

 

Drop a comment below if you have follow up questions. I'd be around for you.

 

 

View solution in original post

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Not applicable

Re: Quickbooks categorizing expenses for different rental properties

Thanks @ShiellaGraceA .   I used classified them by class.  That solution worked out.  

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