Quickbooks Set Up For Short Term Rental Owners

How To Set Up Quickbooks For Your Short Term Rental The CORRECT Way In Just 1 Day (even with no accounting experience)

What you'll learn

Identify different Quickbooks plans and which one is the right fit for you

Proactively set up your Quickbooks account to take advantage of tax deductions

Understand and properly categorize various types of financial transactions

Catch up your books for previous months that you've been in business

Set up your real estate purchase on the Balance Sheet correctly

Run and customize reporting for your STR so you can accurately see how your business is doing financially

Quickbooks tips and tricks to help you with additional features Quickbooks has to offer

Requirements

No accounting or bookkeeping experience needed. You'll learn everything you need to know.

Description

This Course Is Perfect For You If:You just purchased your FIRST SHORT TERM RENTAL investment propertyYour real estate BUSINESS IS 1 or 2 YEARS OLD and you're ready to get your books set up with a little helpYou want to have your financial books set up the CORRECT way and save yourself HOURS or frustration and HUNDREDS of dollars down the roadYou want to proactively set up your account to take advantage of TAX DEDUCTIONSYou aren't sure how to PROPERTY CATEGORIZE your financial transactionsYou're OPEN TO LEARNING the best way to manage your accounting books going forwardYou need help setting up and choosing the best NEW QUICKBOOKS account for youLet's Take A Look Inside…Module 1 - OrientationFirst, we dive into what bookkeeping is so get ready to unlock the mystery of bookkeeping and accounting and how you can do this.Module 2 - Setting Up Your Quickbooks AccountNext, we will actually talk about the different Quickbooks plans and identify which one is the right fit for you and then go ahead and actually get your account all set up.Module 3 - Chart of AccountsHere we set up one of the most important things in your Quickbooks account and that is your Chart of Accounts.  This drives so much of you accounting books and getting this right will save you so many headaches down the road.Module 4 - Categorizing TransactionsCategorizing your transactions is the bread and butter of your bookkeeping and we will go over exactly how you can do that for various types of transactions that will come up with operating your STR business.Module 5 - Catch UpWe hardly ever start our books perfectly on day 1 the same day we open our business so this module is all about how to correctly catch up your books for those previous months that you've been in business this year.Module 6 - Real Estate PurchaseWe are in the business of buying and holding real estate and so it is very important to also set up the real estate in the portfolio correctly which is exactly what we will do in this module.Module 7 - ReportingFor me, this is when things get fun!  We will go over how to run and customize the reporting for your STR so you will finally be able to accurately see what is going on with the financial in your business.Module 8 - Quickbooks Tips & TricksLastly, I've added some Quickbooks tips and tricks to help you out and be even more comfortable with using all the great features that Quickbooks has to offer.

Overview

Section 1: Orientation

Lecture 1 Welcome!

Lecture 2 What Is Bookkeeping?

Lecture 3 Money Mindset

Lecture 4 Financial Goals

Section 2: Setting Up Your Quickbooks Account

Lecture 5 What Do I Need To Get Started?

Lecture 6 Which Plan Should I Choose?

Lecture 7 Sign Up For Quickbooks

Lecture 8 Account Settings

Lecture 9 Customize Forms

Lecture 10 Ideal Account Set Up

Lecture 11 Connect Bank Accounts

Section 3: Chart of Accounts

Lecture 12 Financial Statements Intro

Lecture 13 Profit & Loss

Lecture 14 Balance Sheet

Lecture 15 Cash Flow Statement

Lecture 16 What Is The Chart of Accounts?

Lecture 17 Chart of Accounts Set Up

Section 4: Categorizing Transactions

Lecture 18 Bank Feeds

Lecture 19 Bank Feed Examples

Lecture 20 Money In & Out of Business

Lecture 21 Transfers, Matches, and Credit Card Payments

Lecture 22 Mortgage Payments

Lecture 23 Automation With Rules

Lecture 24 Tags

Lecture 25 What Not To Do

Lecture 26 Journal Entries

Section 5: Catch Up

Lecture 27 What Is A Catch Up?

Lecture 28 Catch Up Overview

Lecture 29 Beginning Balances

Lecture 30 Beginning Balances Example

Lecture 31 Perform Catch Up

Lecture 32 Reconcile Balances

Section 6: Real Estate Purchase

Lecture 33 Real Estate Purchase

Lecture 34 ALTA Journal Entry

Section 7: Reporting

Lecture 35 Run Reports in Quickbooks

Lecture 36 Create Custom Reports

Lecture 37 Create Management Reports

Lecture 38 What Are They Telling Me?

Lecture 39 Review Profit & Loss

Lecture 40 Review Balance Sheet

Lecture 41 Review Cash Flow Statement

Lecture 42 Budget & Forecast

Section 8: Quickbooks Tips & Tricks

Lecture 43 Mileage

Lecture 44 Quickbooks App

Lecture 45 Business View

Lecture 46 Support Options

Section 9: Next Steps

Lecture 47 Congrats! Here's What's Next…

Short Term Rental Owners who've just purchased their first investment property,Vacation Renal Owners who want to set up their accounting on Quickbooks