JHyre and Quickbooks users!!! - Posted by Carey_PA

Real Estate Investing
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Posted by Stacy (AZ) on February 05, 2002 at 12:41:48:

…ahhh, gocha! You better hurry!

LOL

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JHyre and Quickbooks users!!! - Posted by Carey_PA

Posted by Carey_PA on February 05, 2002 at 09:03:19:

Hey gang,

I am NOW just getting around to entering in allll of my 2001 stuff into quickbooks. Yes, I’m a procrastinator.

Anyway, the reason I don’t put them in when I should is because I’m not to sure about the all the categories that I should have in there.

If anyone uses quickbooks and has a list of categories that I could use, I would greatly, greatly appreciate it if you could just shoot me an email w/ your list.

Here’s what I do so you can get an idea of what types of categories I’m talking about:

I buy mh’s and sell them with owner financing, I buy sfh’s With bank financing and sell via a lease purchase…and that’s about it for now.

PLease help me, I’m getting desperate and March 15th is right around the corner!

Thanks in advance,

CAREY

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Re: JHyre and Quickbooks users!!! - Posted by JHyre in Ohio

Posted by JHyre in Ohio on February 06, 2002 at 06:23:03:

Bud posted a good list of the accounts that you will use. Each SFH will have to have its own account as a “job” to keep track of basis…QB really isn’t sedigned for that, so you have to “cheat” and call each house a “job”. In re MH’s…I’ve never seen anyone use QB for those, a post on the MH board may help. The importnat thing is to track indivdual payments by 3 categories 1) principal 2) interest and 3) late payments. Similar to SFH, each MH needs to be its own job and expenses relating to each MH need to feed into the correct “job”.

John Hyre

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Re: JHyre and Quickbooks users!!! - Posted by Stacy (AZ)

Posted by Stacy (AZ) on February 05, 2002 at 11:46:33:

Hi Carey-

Just 'cause you’re such a nice person, you can have until April 15 instead of March 15.

(smile)

Stacy

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Let me know if you get it, same thing for me…nt - Posted by Nathan(OH)

Posted by Nathan(OH) on February 05, 2002 at 09:56:01:

nt

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Re: JHyre and Quickbooks users!!! - Posted by lyal

Posted by lyal on February 06, 2002 at 09:49:54:

John,
I’ve been shying away from QB and using Quicken because of the absence of the ability to supply amortized loan info. Quicken can do this but you need to jump through some hoops (this from another investor who uses Quicken. I haven’t figured out the hoops yet and just went through the laborious process of “constructing” my finances for the past year in quicken and manually entering the principal and interest from my TValue data. AAAAGGGGHHH!!)
Am I missing something in QB? Can you Set up integrated amortized loans for mobiles etc so you can easily enter the interest / principal in categories / classes (or whatever their counterparts are in QB)?
Thanks, Lyal

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nevermind John, I opened my eyes and - Posted by Carey_PA

Posted by Carey_PA on February 06, 2002 at 08:25:52:

found Bud’s post. :slight_smile:

thanks

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Re: JHyre and Quickbooks users!!! - Posted by Carey_PA

Posted by Carey_PA on February 06, 2002 at 08:24:48:

John,

Thanks for the post. But where is Bud’s post that you spoke about???

Thanks,

CAREY

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Re: JHyre and Quickbooks users!!! - Posted by Carey_PA

Posted by Carey_PA on February 05, 2002 at 11:48:29:

Well, my corp return is due 3/15, but ya know what w/ extensions i can have EVEN longer than 4/15.

but thanks Stacy, you are too too kind lol

CAREY

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Re: JHyre and Quickbooks users!!! - Posted by Steve-Atl

Posted by Steve-Atl on February 07, 2002 at 09:31:18:

You’re right. QB does not run amort schedules or tracks note payments. I use Notesmith for those functions. Notesmith will export transactions like loan payments into QB, breaking each down by principal, interest, fees, escrow, etc.

Notesmith is not an accounting program and QB is not a note management program, so I use both.