Fast Trac Consulting - Latest Comments

Re: Record a Mortgage as a Lender in QuickBooks

Gita Faust — Tue, 16 Feb 2016 14:37:55 -0000

You are on the right track Craig.

Re: Record a Mortgage as a Lender in QuickBooks

Gita Faust — Tue, 16 Feb 2016 14:36:33 -0000

Craig - you will have to split the amount by adding two accounts: one for loan and another for interest. That is the only way you will be able to track loan balance accurately.

Re: Free QuickBooks Premier 2013

Gita Faust — Tue, 16 Feb 2016 14:34:35 -0000

Teri, It all depends on how your accounts and procedure is set up in QuickBooks. How do you differentiate your rental and property management account?

Re: Free QuickBooks Premier 2013

Teri Cooper Romines — Sun, 07 Feb 2016 20:57:39 -0000

Should property repairs be paid out of the rental account or the Property Management account?

Re: Record a Mortgage as a Lender in QuickBooks

Craig Bessinger — Sat, 23 Jan 2016 11:46:57 -0000

How do I automate billing principal and interest each month amnually

Re: Record a Mortgage as a Lender in QuickBooks

Craig Bessinger — Sat, 23 Jan 2016 11:46:06 -0000

: As a mortgage lender, you lend money to purchase a property using the property as collateral if the borrower cannot pay their monthly loan amounts.

Create Items for:

Principal amount

Interest

Late fees

Other charges

Re: Vacation Rental QuickBooks Accounting Management Software

Gita Faust — Wed, 23 Jul 2014 18:53:04 -0000

I do not see Mac on the horizon yet. But the concept is very similar to the desktop versions.

Re: QuickBooks Chart of Accounts for Landlord Rentals, Residential, and Multi-Unit Properties

Gita Faust — Wed, 23 Jul 2014 18:44:46 -0000

David,

Am glad you found this helpful. Do not forget you are the hero too!

Re: QuickBooks Chart of Accounts for Landlord Rentals, Residential, and Multi-Unit Properties

Gita Faust — Wed, 23 Jul 2014 18:43:25 -0000

Lukman,

Computer and Internet would be an Expense Account. Computer purchase would be Fixed Assets.

Re: QuickBooks Chart of Accounts for Landlord Rentals, Residential, and Multi-Unit Properties

Gita Faust — Wed, 23 Jul 2014 18:42:44 -0000

Stan, It could be one or multiple files. All depends on your business structure, and processes you have in place currently in your business. What is your agreement with the owners?

Re: Download QuickBooks Chart of Accounts for Wholesale Distribution and Sales

Gita Faust — Wed, 23 Jul 2014 18:41:01 -0000

What do you call? That is the word I would use. KISS. You have to be able to recognize it when reviewing your reports.

Re: Download QuickBooks Chart of Accounts for Wholesale Distribution and Sales

dawn — Tue, 15 Jul 2014 10:42:39 -0000

Gita, I am setting up a chart of accounts that manages (only) the production of otc drugs, when I payout proceeds from sales less expenses to our customer should this account be set up as an expense titled distributions?

Re: QuickBooks Chart of Accounts for Landlord Rentals, Residential, and Multi-Unit Properties

Stan — Sun, 13 Jul 2014 05:17:56 -0000

Hi Gita, if I use quick books to manage rental properties for landlords, would you record commissions earned in a separate company file for my own income and expenses?

Re: QuickBooks Chart of Accounts for Landlord Rentals, Residential, and Multi-Unit Properties

Lukman — Wed, 25 Jun 2014 00:27:52 -0000

Computer And Internet comes under what expense?

Re: QuickBooks Chart of Accounts for Landlord Rentals, Residential, and Multi-Unit Properties

David Jones — Wed, 21 May 2014 15:55:01 -0000

Thank you so much, Ms. Faust. Being my wife's hero is not as easy as I thought, but I'm still trying. She manages several properties; half we own and half she's hired as a manager. I offered to save the (tax) day by keeping her books and making it easier next year to do our taxes. Whew! This accounting stuff isn't easy at all; but this Chart of Accounts that you are so kind to share with the world will go a long way. I guess I can put my cape back on.
I just had to get that out. Thanks again.

Re: Vacation Rental QuickBooks Accounting Management Software

Gita Faust — Tue, 08 Apr 2014 14:23:19 -0000

Jenny working on the QuickBooks Mac version for vacation rental and property management. For now we are concentrating on creating videos for our products. Will keep in touch.

Re: Vacation Rental QuickBooks Accounting Management Software

Jenny Oest — Tue, 11 Mar 2014 09:00:26 -0000

would like to see Quickbooks for MAC on the list too.

Re: Condo Association Reserve in QuickBooks

Gita Faust — Thu, 16 Jan 2014 14:13:39 -0000

Hello Joan,

You can use QuickBooks USA 2010 and up, Canada 2011
and up or UK 2011 and up versions. Either QuickBooks Pro, Premier or
Enterprise.

Here is the link:
http://www.expertpublishers...

Re: Condo Association Reserve in QuickBooks

joan — Fri, 10 Jan 2014 01:07:34 -0000

I could not reach your site for Managing Community Assciations with Quickbook and need to know what version of Quickbook can be used for Condo's and HOA's

Re: How to Create Rent Item in QuickBooks

Gita Faust — Mon, 06 Jan 2014 08:29:24 -0000

Jennifer, You are on the right track. Here is a link you may want to read http://www.fasttracconsulti... Let me know how it works out.

Re: How to Create Rent Item in QuickBooks

Jennifer Flowers-Duffy — Fri, 03 Jan 2014 20:08:22 -0000

I need a little guidance. I set up the properties as customers with the tenants as jobs. I set up the service item, rent and pointed it at Rental Income. I then generated invoices to each customer/job for the service item - rent. I am a bit confused though because the invoice totals are in my Accounts Receivable not in the Rental Income. When I apply payments how will this look/work? I really appreciate any help. I'm feeling a bit in over my head.

Re: Add Footer Fields to QuickBooks Invoice Template

Gita Faust — Tue, 05 Nov 2013 08:15:39 -0000

Dana,

Customize your templates, by clicking on List > Templates >. Double click on the template and edit as needed. You can add a text box and move it to the bottom of the page for the footer field.

Re: QuickBooks Sales and Customers: My Preferences

Gita Faust — Tue, 05 Nov 2013 08:13:29 -0000

Kathy,

Click on Edit > Preferences and select the tabs on the right.

Re: QuickBooks Property Management Module

Sandra — Sat, 19 Oct 2013 20:52:48 -0000

Gita,
I have a data file in Yardi software and would like to convert it to QuickBooks Desktop software. Do you have any suggestions for me? Can you help?

Thanks,
Sandra OMeara
omeara.sandra@gmail.com

Re: QuickBooks Sales and Customers: My Preferences

Kathy — Sun, 13 Oct 2013 10:05:18 -0000

How do you find sales and customer preferences?