Setting up Quickbooks Online for Renting / LandlordsI'm new to quickbooks, and accounting. So please don't hit me with the stupid stick!
I've been looking on the forum for information about setting up QBO for Landlords / someone who rents something, but have only found guides that wont work with this version of software.
i understand that previously Landlords used to use classes/ sub-classes for properties, customer centre is tenants, vendor centre is vendors.bank=bank. invoices sent from the customer centre= income. I honestly have no idea how the assets (houses) and their depreciation / appreciation is handled, if one is revalued / sold.
What i have done is properties= customers. tenants=sub customers. I'm pretty sure this is not the way to do it.
What's the alternative to classes / sub-classes?
Could someone who knows about setting up quickbooks / who has done this before have a think about it?
Thanks for any help.