How To Set Up Quicken 17 File For Mac
Quickbooks works fine for rental properties, and year end is an ideal time to transfer. You will need a separate QB company file for each entity. Use the class feature for each property. You'll have to set up a balance sheet - I could even send you a chart of accounts to import.
Once you see how it is set up, it's pretty straightforward. I can see how the management part would be a hassle, because that will also need to be a separate company, and you will have to record things back and forth between the companies. I have a few clients with this setup, and it can get quite complex. How to format wd my passport raid for mac.
May 10, 2018 - In the right pane, select the settings you want to use. To have Quicken automatically download your transactions when you start it up. Dec 19, 2018 - Mac. 500 people found this helpful. When you back up your Quicken data, you preserve. QDF while a Quicken backup file has the extension.
Usually I have the client send me a backup so I can just make changes and send the files back to you fixed up. Quickbooks is more of a 'debits and credits' program, and that throws people off sometimes. I'm just saying that it can be done, and quite well, as long as you understand all the issues. Having said that, as a CPA I consider it my job to use whatever format the client chooses to use. It's YOUR books after all, you should be able to use whatever you want to use.
Using something 'not quickbooks' is fine with me with the understanding that you will have to book whatever adjustments (depreciation, etc) come out of the tax return. I usually send back a list of adjustments as well as ending balances for the client to enter and check. Ask your CPA for that. Or maybe they have so much business that they can afford to be that picky.
HTH Mark Wagner, CPA. Awesome that you're taking control of your accounting destiny! Your current transfer plan makes a lot of sense, really glad you found a method that works for you - all while running a sizable team. Any issues with the data transfer in the past? So you looking to use your Quicken-to-QB platform for rental management?
We've actually had qutie a few conversations on the community about property management, must be the season. Just a thought though, it might be a good idea to keep everything seperate - different data sets, different programs, no confusion.
Even though you're retired, do you still do any machining/electrical work? I used to build electro-magnets on folders when I was a kid. Quickbooks works fine for rental properties, and year end is an ideal time to transfer. You will need a separate QB company file for each entity.
Use the class feature for each property. You'll have to set up a balance sheet - I could even send you a chart of accounts to import. Once you see how it is set up, it's pretty straightforward. I can see how the management part would be a hassle, because that will also need to be a separate company, and you will have to record things back and forth between the companies. I have a few clients with this setup, and it can get quite complex.
Usually I have the client send me a backup so I can just make changes and send the files back to you fixed up. Quickbooks is more of a 'debits and credits' program, and that throws people off sometimes. I'm just saying that it can be done, and quite well, as long as you understand all the issues. Having said that, as a CPA I consider it my job to use whatever format the client chooses to use. It's YOUR books after all, you should be able to use whatever you want to use.
Using something 'not quickbooks' is fine with me with the understanding that you will have to book whatever adjustments (depreciation, etc) come out of the tax return. I usually send back a list of adjustments as well as ending balances for the client to enter and check. Ask your CPA for that. Or maybe they have so much business that they can afford to be that picky. HTH Mark Wagner, CPA. I detest QB online and refuse to work with it.
You cannot run a report, then doubleclick to the underlying transaction and go back to the report. Instead you have to 'reload' the report every time. Several of the features don't work the same or as well as the desktop version. The speed of reload makes tasks like check entry easily take 4 times as long as doing it on desktop. Did I mention that it's slow? Furthermore, it is a monthly subscription, which is no doubt why Quickbooks pushes it so hard. Because the desktop software can be purchased once and used for up to three years with no additional cost, desktop is less expensive for the client.