3 Bookkeeping Mistakes You Must Avoid in Commercial Real Estate
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How to avoid 3 common bookkeeping mistakes that impact the efficiency and financial success of your Commercial Real Estate Business.
Category: Accounting
How to Record the Purchase of A Fixed Asset/Property
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Many investors find that purchasing a new commercial property is easy. But the next step, recording the purchase as a fixed asset in QuickBooks, can be complicated and confusing.
How do the CARES Act NOL Changes Impact Real Estate?
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As part of the CARES Act (Coronovirus Aid, Relief, and Economic Securities) passed on March 30, 202, businesses with Net Operating Losses (NOL) in 2018, 2019, and 2020 can now amend previous tax returns and offset the income in previous years.
How Should I Track Rent Payments That Were Impacted by COVID-19?
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For many real estate owners and landlords across the country, the first real impact of the COVID-19 is becoming a reality with rent collection. Clearly, rent payments have been profoundly impacted by COVID-19.
Top Strategies for Commercial Real Estate Owners to Close Out the Year
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We had the opportunity to sit down with Trevor McCandless from Fusion CPA, where we talked about accounting, tax planning, and closing out the year. The session was targeted at real estate owners.
Manage your Tenant’s Security Deposits Like a Pro
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Are you tracking your tenant security deposits? This is a must-do activity for anyone that owns real estate.
Simplifying Commercial Real Estate Accounting for Your Business Purpose
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While real estate deals are often quite complex and have many different factors, the actual accounting isn’t nearly as complicated as it seems. We break it down here. There are two key questions to ask yourself first in order to do the accounting properly for your real estate business. Define the Purpose of Your Real […]
Advantages of Moving your Real Estate Business to QuickBooks Online
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We are being asked by our customers more frequently if they should convert from QuickBooks Desktop to QuickBooks Online.
How to Set Up a Chart of Accounts for a Real Estate Company in QBO
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Today we are walking through a step-by-step process on how to set up a chart of accounts for a real estate company using QuickBooks Online. Get your free copy of a sample chart of accounts for a real estate company at the bottom of the blog. This chart of accounts is focused primarily on companies […]
The Essential Guide to Direct Cash Flow and Indirect Cash Flow
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What is the difference between the direct cash flow method and the indirect cash flow method? And, more importantly, how do you calculate them? And, finally, what does this have to do with my cash flow statement?