Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Decided to make the leap from Quickbooks 2016 to Quickbooks Online. Importing was a snap, but I quickly realized our current Chart of Accounts isn't going to work for QBO due to the limit of 250.
We currently have:
Income
Property Expenses
That's served us well and made tax filing easy but with 40 properties, we're well over the 250 account limit. I see some information about using classes, but again the 40 properties puts us over that limit.
I've seen some information around using sub-customers and am exploring that. Anyone found an ideal solution for managing 40+ properties?
Thanks for trying QuickBooks Online, wilsonza.
We can enter them as customers. For this, you'll be using one income and one expense account. Then, we can separate the properties by running the Profit and Loss by Customer report.
Here's how to add a customer:
Once you're ready to run the report, you can check this article for the steps: Run a Profit and Loss report.
If you need further assistance, please let me know. I'll be here to help!
Explore this rental app and integrate it with your QBO. You may find something usefull for your curent situation.
https://uplisting.grsm.io/uplisting
Hope it helps.
@wilsonza I am surprised that @Adrian_A did not try to sell you on QB Advanced, which has unlimited Class tracking. Yes, Plus tops out at 40 and if you never went over 40 you could use Plus.
BTW, you should never, in my opinion, create separate income/expense accounts by property or customer, for that matter. Whether it is a report by Customer, or Class, one set of chart of accounts limited mostly to the lines on the form(s) you submit to the IRS is sufficient
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here