QuickBooks Online Landlords Property Purchase With Mortgage

In this learn QuickBooks Online For Landlords training session, you will see how to record purchasing real estate when there is a mortgage. You need to set up the property in QuickBooks online as a “fixed asset” and then set up the mortgage account as a “long term liability”. Then, you will use QuickBooks online to make a journal entry that includes the deposit as a down payment that the purchaser must give at the moment of the property sale. The seller gets the money from the down payment as well as the proceeds of the mortgage. This video is the first in a series of three consecutive videos on how to “flip property” or “flip houses” to turn a profit. Please view the next video on how to record upgrades / renovations to your real estate rental property.
This QuickBooks KZbin Playlist will prove to all students studying and learning QuickBooks Online, that QuickBooks desktop and QuickBooks online are better for doing bookkeeping for rental properties and property management companies than any other software; including software that is specific to real estate rentals and properties managed by property management companies. This play list will soon have a video for every possible transaction type that a landlord could encounter when using QuickBooks Online to keep financial records of tenant’s deposits, tenant’s rent payments and rent invoices as well as real estate financial statement accuracy.
The ENTIRE QBO landlords playlist is here:👇
• QuickBooks Online Cont...
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You can purchase the whole course and own these videos forever if you go to quickbooksforlandlords.net. The QuickBooks online and QuickBooks Macintosh versions of the course are also available there.
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Mark Smolen is a certified instructor and the creator of the QuickBooks Instructional KZbin Channel and Website.
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