Profit & Loss by Property

<jt_garces.DeleteThis@yahoo.com> wrote in message
news:d0f2ae32-c1e1-496d-b7bc-83b034f6ddcf@u69g2000hse.googlegroups.com...
> Hello,
>
> I haven't worked in QuickBooks in a while, and my brain is completely
> frozen on this. I need to track several rental properties by income
> and expense, but I have no idea how to classify or account for each
> property in order for it to show on it's own P&L. How do you get an
> expense to tie in with an income item? Is my only recourse to assign
> classes for each property and then run a P&L by class?

First you ask a question and then answer it yourself. Next time use a mirror
instead of a newgroup and save us valuable time.



>
> Thanks,
> Jennifer
 >> Stay informed about: Profit & Loss by Property 

On Mar 23, 7:29�am, "Haskel LaPort" <QBFan... RemoveThis @gmail.com> wrote:
<SNIP unnecessary info>
> First you ask a question and then answer it yourself. Next time use a mirror
> instead of a newgroup and save us valuable time.
>
>
>
>
>
> > Thanks,
> > Jennifer- Hide quoted text -
>
> - Show quoted text -

Oh, great Guru LaPort:

#1 - Ain't nobody forcing you to read/respond and use your "Valuable
time"
#2 - Sometimes it's helpful to confirm a concept with others, as Owen
realizes
#3 - Your comment is REALLY inappropriate, and should have been given
to a mirror
instead of a newgroup, saving us valuable time.

Tony
 >> Stay informed about: Profit & Loss by Property 

"TonyK" <tonykestle RemoveThis @aol.com> wrote in message
news:353ae166-6527-43a9-a7f2-801068747ed1@i7g2000prf.googlegroups.com...
On Mar 23, 7:29�am, "Haskel LaPort" <QBFan... RemoveThis @gmail.com> wrote:
<SNIP unnecessary info>
> First you ask a question and then answer it yourself. Next time use a
> mirror
> instead of a newgroup and save us valuable time.
>
>
>
>
>
> > Thanks,
> > Jennifer- Hide quoted text -
>
> - Show quoted text -

Oh, great Guru LaPort:

#1 - Ain't nobody forcing you to read/respond and use your "Valuable
time"
#2 - Sometimes it's helpful to confirm a concept with others, as Owen
realizes
#3 - Your comment is REALLY inappropriate, and should have been given
to a mirror
instead of a newgroup, saving us valuable time.

Tony

Tony,

KMA
 >> Stay informed about: Profit & Loss by Property 

I do this using customers>jobs.
As we are a building contractor, I use the contractor edition, and it works
fine for this. P&Ls can be done by job.

I use classes for something else.

I have not tried the "standard" QB version, so I don't know how it might
differ on this.

GC

<jt_garces DeleteThis @yahoo.com> wrote in message
news:d0f2ae32-c1e1-496d-b7bc-83b034f6ddcf@u69g2000hse.googlegroups.com...
> Hello,
>
> I haven't worked in QuickBooks in a while, and my brain is completely
> frozen on this. I need to track several rental properties by income
> and expense, but I have no idea how to classify or account for each
> property in order for it to show on it's own P&L. How do you get an
> expense to tie in with an income item? Is my only recourse to assign
> classes for each property and then run a P&L by class?
>
> Thanks,
> Jennifer
 >> Stay informed about: Profit & Loss by Property 

"Haskel LaPort" <QBFanBoy RemoveThis @gmail.com> wrote in message
news:47ea6f86$0$5620$607ed4bc@cv.net...
>
> "TonyK" <tonykestle RemoveThis @aol.com> wrote in message
> news:353ae166-6527-43a9-a7f2-801068747ed1@i7g2000prf.googlegroups.com...
> On Mar 23, 7:29?am, "Haskel LaPort" <QBFan... RemoveThis @gmail.com> wrote:
> <SNIP unnecessary info>
>> First you ask a question and then answer it yourself. Next time use a
>> mirror
>> instead of a newgroup and save us valuable time.
>>
>>
>>
>>
>>
>> > Thanks,
>> > Jennifer- Hide quoted text -
>>
>> - Show quoted text -
>
> Oh, great Guru LaPort:
>
> #1 - Ain't nobody forcing you to read/respond and use your "Valuable
> time"
> #2 - Sometimes it's helpful to confirm a concept with others, as Owen
> realizes
> #3 - Your comment is REALLY inappropriate, and should have been given
> to a mirror
> instead of a newgroup, saving us valuable time.
>
> Tony
>
> Tony,
>
> KMA

nobody asked, but I agree with Tony.
 >> Stay informed about: Profit & Loss by Property 

"Gil Faver" <rowdy'sboss@xxyz.com> wrote in message
news:zHAGj.85603$cQ1.64456@bgtnsc04-news.ops.worldnet.att.net...
>
> "Haskel LaPort" <QBFanBoy.RemoveThis@gmail.com> wrote in message
> news:47ea6f86$0$5620$607ed4bc@cv.net...
>>
>> "TonyK" <tonykestle.RemoveThis@aol.com> wrote in message
>> news:353ae166-6527-43a9-a7f2-801068747ed1@i7g2000prf.googlegroups.com...
>> On Mar 23, 7:29?am, "Haskel LaPort" <QBFan....RemoveThis@gmail.com> wrote:
>> <SNIP unnecessary info>
>>> First you ask a question and then answer it yourself. Next time use a
>>> mirror
>>> instead of a newgroup and save us valuable time.
>>>
>>>
>>>
>>>
>>>
>>> > Thanks,
>>> > Jennifer- Hide quoted text -
>>>
>>> - Show quoted text -
>>
>> Oh, great Guru LaPort:
>>
>> #1 - Ain't nobody forcing you to read/respond and use your "Valuable
>> time"
>> #2 - Sometimes it's helpful to confirm a concept with others, as Owen
>> realizes
>> #3 - Your comment is REALLY inappropriate, and should have been given
>> to a mirror
>> instead of a newgroup, saving us valuable time.
>>
>> Tony
>>
>> Tony,
>>
>> KMA
>
> nobody asked, but I agree with Tony.

Then you agree with a moron.




>
>
 >> Stay informed about: Profit & Loss by Property 

On Mar 26, 3:27 pm, "Chips" <chi....TakeThisOut@reliableins.nospam> wrote:
> I do this using customers>jobs.
> As we are a building contractor, I use the contractor edition, and it works
> fine for this. P&Ls can be done by job.
>
> I use classes for something else.
>
> I have not tried the "standard" QB version, so I don't know how it might
> differ on this.
>
> GC
>
> <jt_gar....TakeThisOut@yahoo.com> wrote in message
>
> news:d0f2ae32-c1e1-496d-b7bc-83b034f6ddcf@u69g2000hse.googlegroups.com...
>
>
>
> > Hello,
>
> > I haven't worked in QuickBooks in a while, and my brain is completely
> > frozen on this.  I need to track several rental properties by income
> > and expense, but I have no idea how to classify or account for each
> > property in order for it to show on it's own P&L.  How do you get an
> > expense to tie in with an income item?  Is my only recourse to assign
> > classes for each property and then run a P&L by class?
>
> > Thanks,
> > Jennifer- Hide quoted text -
>
> - Show quoted text -

I agree--you can set up each rental property as a customer (with the
tenants as a job). When you have expenses for the property (repairs
or maintance) you assign them to that customer/job. Then you can use
the job profitability reports to see the P&L for each rental property
(ie customer/job). That seems to be the method most widely
recommended. Although classes will work.

Michelle L. Long, CPA, MBA
Author of: Successful QuickBooks Consulting: The Complete Guide to
Starting and Growing a QuickBooks Consulting Business
http://www.SuccessfulQuickBooksConsulting.com
http://www.amazon.com/Successful-QuickBooks-Consulting-Comprehensive-S...ting/dp
 >> Stay informed about: Profit & Loss by Property 

"Haskel LaPort" <QBFanBoy.TakeThisOut@gmail.com> wrote in message
news:47eb5d25$0$15178$607ed4bc@cv.net...
>
> "Gil Faver" <rowdy'sboss@xxyz.com> wrote in message
> news:zHAGj.85603$cQ1.64456@bgtnsc04-news.ops.worldnet.att.net...
>>
>> "Haskel LaPort" <QBFanBoy.TakeThisOut@gmail.com> wrote in message
>> news:47ea6f86$0$5620$607ed4bc@cv.net...
>>>
>>> "TonyK" <tonykestle.TakeThisOut@aol.com> wrote in message
>>> news:353ae166-6527-43a9-a7f2-801068747ed1@i7g2000prf.googlegroups.com...
>>> On Mar 23, 7:29?am, "Haskel LaPort" <QBFan....TakeThisOut@gmail.com> wrote:
>>> <SNIP unnecessary info>
>>>> First you ask a question and then answer it yourself. Next time use a
>>>> mirror
>>>> instead of a newgroup and save us valuable time.
>>>>
>>>>
>>>>
>>>>
>>>>
>>>> > Thanks,
>>>> > Jennifer- Hide quoted text -
>>>>
>>>> - Show quoted text -
>>>
>>> Oh, great Guru LaPort:
>>>
>>> #1 - Ain't nobody forcing you to read/respond and use your "Valuable
>>> time"
>>> #2 - Sometimes it's helpful to confirm a concept with others, as Owen
>>> realizes
>>> #3 - Your comment is REALLY inappropriate, and should have been given
>>> to a mirror
>>> instead of a newgroup, saving us valuable time.
>>>
>>> Tony
>>>
>>> Tony,
>>>
>>> KMA
>>
>> nobody asked, but I agree with Tony.
>
> Then you agree with a moron.

Doth the crime speak loudly in accusation?

GC
 >> Stay informed about: Profit & Loss by Property 

"Chips" <chips1 DeleteThis @reliableins.nospam> wrote in message
news:TOXGj.20488$xq2.10324@newssvr21.news.prodigy.net...
>
> "Haskel LaPort" <QBFanBoy DeleteThis @gmail.com> wrote in message
> news:47eb5d25$0$15178$607ed4bc@cv.net...
>>
>> "Gil Faver" <rowdy'sboss@xxyz.com> wrote in message
>> news:zHAGj.85603$cQ1.64456@bgtnsc04-news.ops.worldnet.att.net...
>>>
>>> "Haskel LaPort" <QBFanBoy DeleteThis @gmail.com> wrote in message
>>> news:47ea6f86$0$5620$607ed4bc@cv.net...
>>>>
>>>> "TonyK" <tonykestle DeleteThis @aol.com> wrote in message
>>>> news:353ae166-6527-43a9-a7f2-801068747ed1@i7g2000prf.googlegroups.com...
>>>> On Mar 23, 7:29?am, "Haskel LaPort" <QBFan... DeleteThis @gmail.com> wrote:
>>>> <SNIP unnecessary info>
>>>>> First you ask a question and then answer it yourself. Next time use a
>>>>> mirror
>>>>> instead of a newgroup and save us valuable time.
>>>>>
>>>>>
>>>>>
>>>>>
>>>>>
>>>>> > Thanks,
>>>>> > Jennifer- Hide quoted text -
>>>>>
>>>>> - Show quoted text -
>>>>
>>>> Oh, great Guru LaPort:
>>>>
>>>> #1 - Ain't nobody forcing you to read/respond and use your "Valuable
>>>> time"
>>>> #2 - Sometimes it's helpful to confirm a concept with others, as Owen
>>>> realizes
>>>> #3 - Your comment is REALLY inappropriate, and should have been given
>>>> to a mirror
>>>> instead of a newgroup, saving us valuable time.
>>>>
>>>> Tony
>>>>
>>>> Tony,
>>>>
>>>> KMA
>>>
>>> nobody asked, but I agree with Tony.
>>
>> Then you agree with a moron.
>
> Doth the crime speak loudly in accusation?

By the nines, you may be onto something.

>
> GC
>
 >> Stay informed about: Profit & Loss by Property 

"QBConsultant" <QBConsultant.RemoveThis@gmail.com> wrote in message
news:acab02b0-dd14-44a5-bb3d-18d3474efe3b@n77g2000hse.googlegroups.com...
On Mar 26, 3:27 pm, "Chips" <chi....RemoveThis@reliableins.nospam> wrote:
> I do this using customers>jobs.
> As we are a building contractor, I use the contractor edition, and it
> works
> fine for this. P&Ls can be done by job.
>
> I use classes for something else.
>
> I have not tried the "standard" QB version, so I don't know how it might
> differ on this.
>
> GC
>
> <jt_gar....RemoveThis@yahoo.com> wrote in message
>
> news:d0f2ae32-c1e1-496d-b7bc-83b034f6ddcf@u69g2000hse.googlegroups.com...
>
>
>
> > Hello,
>
> > I haven't worked in QuickBooks in a while, and my brain is completely
> > frozen on this. I need to track several rental properties by income
> > and expense, but I have no idea how to classify or account for each
> > property in order for it to show on it's own P&L. How do you get an
> > expense to tie in with an income item? Is my only recourse to assign
> > classes for each property and then run a P&L by class?
>
> > Thanks,
> > Jennifer- Hide quoted text -
>
> - Show quoted text -

I agree--you can set up each rental property as a customer (with the
tenants as a job). When you have expenses for the property (repairs
or maintance) you assign them to that customer/job. Then you can use
the job profitability reports to see the P&L for each rental property
(ie customer/job). That seems to be the method most widely
recommended. Although classes will work.

Michelle L. Long, CPA, MBA
Author of: Successful QuickBooks Consulting: The Complete Guide to
Starting and Growing a QuickBooks Consulting Business
http://www.SuccessfulQuickBooksConsulting.com
http://www.amazon.com/Successful-QuickBooks-Consulting-Comprehensive-S...ting/dp


Is it more advisable to show your profit center as a property or as a
tenant?

I can see it both ways if I try, but I would prefer the property approach
because the profit from a tenant view would be skewed if it included vacancy
time, before or after. Still, it may be nice to know that you lost your
shirt on someone who required a lot of attention. Or, from a property view,
would classes work to separate tenants?
 >> Stay informed about: Profit & Loss by Property 

On Mar 29, 7:14 pm, "John" <J... DeleteThis @UseGroupOnly.com> wrote:
> "QBConsultant" <QBConsult... DeleteThis @gmail.com> wrote in message
>
> news:acab02b0-dd14-44a5-bb3d-18d3474efe3b@n77g2000hse.googlegroups.com...
> On Mar 26, 3:27 pm, "Chips" <chi... DeleteThis @reliableins.nospam> wrote:
>
>
>
>
>
> > I do this using customers>jobs.
> > As we are a building contractor, I use the contractor edition, and it
> > works
> > fine for this. P&Ls can be done by job.
>
> > I use classes for something else.
>
> > I have not tried the "standard" QB version, so I don't know how it might
> > differ on this.
>
> > GC
>
> > <jt_gar... DeleteThis @yahoo.com> wrote in message
>
> >news:d0f2ae32-c1e1-496d-b7bc-83b034f6ddcf@u69g2000hse.googlegroups.com...
>
> > > Hello,
>
> > > I haven't worked in QuickBooks in a while, and my brain is completely
> > > frozen on this. I need to track several rental properties by income
> > > and expense, but I have no idea how to classify or account for each
> > > property in order for it to show on it's own P&L. How do you get an
> > > expense to tie in with an income item? Is my only recourse to assign
> > > classes for each property and then run a P&L by class?
>
> > > Thanks,
> > > Jennifer- Hide quoted text -
>
> > - Show quoted text -
>
> I agree--you can set up each rental property as a customer (with the
> tenants as a job).  When you have expenses for the property (repairs
> or maintance) you assign them to that customer/job.  Then you can use
> the job profitability reports to see the P&L for each rental property
> (ie customer/job).  That seems to be the method most widely
> recommended.  Although classes will work.
>
> Michelle L. Long, CPA, MBA
> Author of: Successful QuickBooks Consulting: The Complete Guide to
> Starting and Growing a QuickBooks Consulting Businesshttp://www.SuccessfulQuickBooksConsulting.comhttp://www.amazon...m/Succe
>
> Is it more advisable to show your profit center as a property or as a
> tenant?
>
> I can see it both ways if I try, but I would prefer the property approach
> because the profit from a tenant view would be skewed if it included vacancy
> time, before or after.  Still, it may be nice to know that you lost your
> shirt on someone who required a lot of attention.  Or, from a property view,
> would classes work to separate tenants?- Hide quoted text -
>
> - Show quoted text -

If you set up the property as the customer, you can see the
profitability by job (tenant) or in total. Try it in a sample file to
see how it works.

Michelle L. Long, CPA, MBA
Author of: Successful QuickBooks Consulting: The Complete Guide to
Starting and Growing a QuickBooks Consulting Business
http://www.SuccessfulQuickBooksConsulting.com
http://www.amazon.com/Successful-QuickBooks-Consulting-Comprehensive-...
 >> Stay informed about: Profit & Loss by Property