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Hi Ailene,

 

Thanks for the prompt and detailed reply which was helpful. I have a few follow-up questions if possible to assist further:

 

  • I receive a monthly PDF statement by email with details of income and expenses from our property manager. Would I be better sourcing a CSV file from them, so that I can upload each separate line item of income and expense in order to allocate these individually in Quickbooks? As it stands I don't have these in Quickbooks and so I cannot allocate by Bank Deposit as you have outlined below
  • We have more than one property within the company and so have set up each individual property as separate Customers on Quickbooks in order to allocate income to each Customer. How do I go about doing the same with each property's expense, i.e. how do I allocated a specific expense to a specific Customer? At the moment I have set up multiple "Cost of Sale" lines referring to each customer, but when I try to run a report for a specific Customer I am only seeing income related to them and not expenses
  • In relation to bullet 2, is there a quick and easy way to show all Expense or Cost of Sale items across different Customers, e.g. if we wanted to see Management Fees across each of our different properties in a list format in Chart of Accounts, how would we go about showing this?

 

We are effectively wanting to try and set up Quickbooks to account for the Company as a whole, but have the ability to view each Property in singular, e.g. to see each property's own income and direct expenses relating to that property only.

 

Any pointers on how best to set up would be helpful. Thanks again for all your help.