Managing Your Properties with QuickBooks

For real estate investors, property managers and bookkeepers who work with real estate properties, here are some important guidelines that will help your books be clean and precise.

Classes

In QuickBooks, “classes” allow you to separate income and expenses for each transaction. For a real estate investor or property manager, it is crucial to separate transactions for each property.

Profit and Loss by Class

The most common report for a real estate investor is the Profit and Loss by Class. This report shows your income and expenses with each property in separate, side-by-side columns. To create this report, click on the Reports menu, “Company & Financial” and then “Profit and Loss by Class”.

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