Real Estate Accounting Programs

Rina,

As you know from our conversations, we have been using Quickbooks 2006 pro for our personal finance/taxes.

But now that we have started DeJor Prperties, LLC we want be use good program for Real Estate!

I was thinking of finding some one who has a good Chart-Of-Accounts and run with Quickbooks but I have not found anyone using it for their accounting!

Regards,
DeJor Properties, LLC

I use Sage. It is pretty great

http://www.sagesoftware.com/products/index.cfm/tab/2/customer/2/page/2/c...

Since we own Quickbooks pro and are familiar with it, we have been searching for assistance in getting DeJor Properties, LLC's accounting set up..... I have found a great, easy to use, inexpensive, and effective tool! And, Your Satisfaction is 100% guaranteed

See info at:
Landlord Accounting
http://landlordaccounting.com

TABLE OF CONTENTS from ebook:
Chapter 1. Introduction
1.01 Who Should Read This Book
1.02 What this Book Is
1.03 What this Book Is Not
1.04 When is a Good Time to Read and Implement this?
1.05 How this Manual is Designed
1.06 QuickBooks is not Quicken
1.07 Benefits of QuickBooks
1.08 My Personal Goal

(pg 16)
Chapter 2. Accounting Fundamentals
2.01 Why Does a Landlord or Investor Need Accounting?
2.02 The Basic Accounting Equation
2.03 What is an Account?
2.04 What is The Chart of Accounts?
2.05 Debits and Credits
2.06 Introducing the Balance Sheet
2.07 Introducing the Income (P & L) Statement
2.08 The Sum of all Debits = the Sum of all Credits
2.09 What is Double-Entry Accounting?
2.10 Cost Basis and Adjusted Basis of Property
2.11 What is Depreciation?
2.12 What are Capital Improvements versus Repairs?
2.13 Cash Accounting, not Accrual

(pg 33)
Chapter 3. QuickBooks Fundamentals
3.01 Install QuickBooks
3.02 Open a Sample Data File
3.03 Transactions in the Sample File
3.04 Introduction to the QuickBooks Environment
3.05 Properties are "Customers" in the "Customer:Job List"
3.06 Tenants are "Jobs" in the "Customer:Job List"
3.07 Every Account is in the "Chart of Accounts"
3.08 Properties are Asset Accounts
3.09 Some Accounts have a "Register"
3.10 Rent is Your Primary "Item"
3.11 Properties use a "Class" or "Sub-class"
3.12 "Invoices" make Rent Due
3.13 "Items" go in Every Invoice
3.14 Customize Invoice Templates with your Logo
3.15 "Memorized Transactions" Occur Automatically
3.16 "Write Checks" don't "Pay Bills"
3.17 Write Checks
3.18 "Make Deposits" versus "Receive Payments"
3.19 The "Vendor List" is for Companies You Pay
3.20 If you have employees use the "Employee List"
3.21 People on the "Other Names List"
3.22 Delete and Void Transactions
3.23 "Merge" List Items
3.24 "Reconcile" your bank account
3.25 Online Banking Setup
3.26 "Split Transactions"
3.27 Changing QuickBooks "Preferences"
3.28 "Back up" your Company Data
3.29 "Restore" your Company Data
3.30 Enter Your Reimbursable Expenses in Journal Entries
3.31 Order Checks
3.32 Payroll Options
3.33 Suggested Approach to Starting Your Company File
3.34 You Must Complete Company Information

(pg 94)
Chapter 4. Property Tasks
4.01 The Basics of Properties in QuickBooks
4.02 Record Earnest Money in an Offer to Purchase
4.03 Record a Purchase with Cash
4.04 Record a Purchase with a Conventional Mortgage
4.05 Financing from another Property (or an Investor)
4.06 Record a Hard Money Loan or Line of Credit
4.07 Add an Existing Company-Owned Property
4.08 Transfer a Property you own into Your Company
4.09 Contribute Properties with Accumulated Depreciation
4.10 Accounting for Escrow Impound Accounts
4.11 Record Maintenance Expenses
4.12 Record Capital Improvements
4.13 Pay a Mortgage
4.14 Sell a Property

(pg 115)
Chapter 5. Tenant Tasks
5.01 Add a Tenant to a Property
5.02 Charges Residents for Rent
5.03 Receive Rent
5.04 Manually Charge Late Fees
5.05 Automatically Charge Late Fees
5.06 Deal with Bad Checks
5.07 Send Statements to Tenants
5.08 Enter Prepaid Rent
5.09 Receiving Prepaid Rent
5.10 Charge for Damages while Rented
5.11 Enter Deposit to Hold a Unit
5.12 Enter Security Deposits
5.13 Enter Security Deposit and First Month's Rent Together
5.14 Fully Refund Security Deposits
5.15 Partially Refund Security Deposits
5.16 Write Off Rent as Uncollectible

(pg 151)
Chapter 6. Advanced QuickBooks Usage and Tips
6.01 "Reminders" and "To Do" Lists
6.02 Define Fields for Customers and Jobs
6.03 Paying an Owner who is not on Payroll
6.04 Reimburse someone's purchase for the company
6.05 Tracking Company Startup Costs
6.06 Common Area Maintenance (CAM)
6.07 Contributing Cash into Your Company
6.08 End of Year
6.09 Operating as a Management Company for Clients
6.10 Acting as a Hard Money Lender
6.11 1-Line View in the Register
6.12 Using an Accountant's Review Copy File
6.13 Merging your Accountant's Changes
6.14 Keyboard Shortcuts

(pg 177)
Chapter 7. Reporting Tasks
7.01 Using Reports
7.02 QuickReports
7.03 Profit and Loss (Income Statement) Standard Report
7.04 Profit and Loss Detail Report
7.05 Profit and Loss by Property
7.06 Profit and Loss for One Property
7.07 Balance Statement Standard
7.08 Balance Statement Details
7.09 Modifying Reports, using Filters, and More
7.10 Reports to Find and Correct Errors
7.11 Running a Rent-Roll (Report on Overdue Tenants)
7.12 Historical Charges and Payments by Tenant
7.13 1099 Reports for Vendors
7.14 Report on Asset Value Changes per Property
7.15 Report on Capital Improvements per Property
7.16 Building Insurance Expiration and Status Report
7.17 Tenant Move-In-Date and Contact Information Report
7.18 Using Customer Type for Enhanced Reporting
7.19 Reports for Property Management Clients
7.20 Reports of Property Management Client's Earnings
7.21 Special Charges Report to Client
7.22 Congratulations you made it!

(pg 209)
Appendix A. Business Entities
Sole Proprietorship
LLC
Multiple Entity Structure
Other Structures

Regards,
Rohn & Shelley
DeJor Properties, LLC

It was awsome to put the blank company file in place.... update our company info, put in our bank account, and our property names, our tenents and within 24 hours we have a working business with all the accounts to manage the properties, tenents, and be able to see reports on many many aspects of the business, like "Record Maintenance Expenses" and "Tracking Company Startup Costs" and hundreds of others.

Regards,
Rohn & Shelley
DeJor Properties, LLC

Great info! Thanks for sharing that with us DeJor! I'm going to check it out myself. I already have quickbooks simple start 2008.

Thanks for finding and sharing the info! It will be nice to use something that's already familiar.

Rina

P.S. Rohn & Shelley, it's awesome to see the strides your company is making. I've been enjoying your posts. (and learning from them. Thank you!)