Back to Course

Vacation Rental for Property Managers QuickBooks Online

0% Complete
0/0 Steps
  1. Customize Setup - QBO Plus and Advanced
    5 Topics
  2. Are you using Property Management Software?
  3. Your Company aka Overhead
    3 Topics
  4. Gita's Rules
    3 Topics
  5. Bonuses
    3 Topics
  6. Vendor Name
    2 Topics
  7. Chart of Accounts
    6 Topics
  8. Products and Services
    4 Topics
  9. Categories
    4 Topics
  10. Opening Balances
    10 Topics
  11. Categorizing Transactions
    2 Topics
  12. Property Owners
    3 Topics
  13. Property Name
    2 Topics
  14. Guests
  15. Vendor Expenses
  16. Vendor Deposits
    5 Topics
  17. Petty Cash
    2 Topics
  18. LOC, Personal and Private Loans
    2 Topics
  19. Credit Card
    5 Topics
  20. Bank Feed and Reconciliation
    2 Topics
  21. Sales tax
  22. Booking Site
  23. Management Fees
  24. Owners Checks
  25. 1099

Participants 2

Lesson 4, Topic 1
In Progress

Gita’s Naming Rule -QBO

Gita Faust August 24, 2020
Lesson Progress
0% Complete

Be consistent with list names to keep your file and reports clean and organized.

Loans – Private, Hard Money, Soft Money, Construction Loan and/or Line of Credit
To name customers, use the following format for construction loans:

  • Shortened Lender Name
  • Last 4 digits of account number (if applicable)
  • Property
  • Loan Amount
  • Loan Term
  • Expiration Date

Scenario: FFF! borrows $50,000 from TD Bank to fund a construction project at 567 Pebble Court. The loan is to be paid back in 9 months by September 30th.

The customer is named: TD Bank 8563 Pebble 50k 9mo 2011-09-30

Financiers
To name vendors, accounts, and items, use the following format for loans and investments:

  • Shortened Investor/Lender Name
  • Last 4 digits of account number (if applicable)
  • Payment method (if applicable); For example, add Auto if you make automatic payments
  • Property (if applicable)

Scenario: FFF! borrows from Bank of America to fund the project at 567 Pebble Court. The loan repayment amount is automatically paid monthly from the Company’s bank account.

The vendor, account, and item are named: BofA 8745 Auto Pebble Ct 567

Equity Holder
Add “PARTNER” to the equity holder name to distinguish from the vendor name.

Vendor
To name vendors, use the following format:

  • Shortened Vendor name
  • Last 4 digits of account number (if applicable)
  • Payment method (if applicable); For example, enter Auto if you make automatic payments
  • Property (if applicable)

FFF! would name their Vendors in the following manner:

Expert Cleaners: Expert Cleaners 7856
PECO Electric Company: PECO Electric Auto
Water Revenue Bureau: Water Revenue 5213 Plumly

Responses

Your email address will not be published.