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    Quickbooks Set Up For Short Term Rental Owners

    Posted By: ELK1nG
    Quickbooks Set Up For Short Term Rental Owners

    Quickbooks Set Up For Short Term Rental Owners
    Published 5/2023
    MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz
    Language: English | Size: 997.43 MB | Duration: 3h 54m

    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