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Excellent, lovely clear explanation. Looking forward to future videos

Very helpful, clear and concise. Thank you

Thanks for the video. This was very helpful.

Thanks for making your videos, they are very helpful! How would this differ from a primary residence converted to a rental property? What would those journal entries look like to start your business?

Thank youuu, this’s video really helped me

Well demonstrated and it really explains how this should be done and organized.

Good video. I may make a switch with my accounting software. Have been playing around with quickbooks. I will check out your other videos.

Great video! Thanks!

Thanks Bro. Very helpful!

Great video. However I have a concern, IAS 16 requires initial recognition at cost including other fees paid to professionals. In this case what do you think about survey and recording fees?

I have watched several videos and having a hard time figuring out how to properly record my companies scenario. At times we've owned over 300 separate properties - totally vacant land that was purchased cash. Currently, we own around 60 parcels. Should I be categorizing the address under Class? or Customer? From another video it seemed like I should do customer. But I do not see that as an option on the Journal Entry form. Hope this makes sense!

Thank you!

Hi Income Digs. I am using quickbooks online - how do I record a tenant's rent, less miscellaneous repairs. Rent is $1850. Expense was $417 which tenant paid. The tenant sent in a cheque for $1433 ($1850- $417)

Hello, thanks for making the video! Wondering, don't you have to account for the land and building separately, since the land portion doesn't depreciate? If not, could you speak on why not?Thanks so much!

Your clip was very helpful, thank you! Confused as to why adding value to an asset is a DEBIT and deducting from checking is a CREDIT. Would it also work the other way around?

Not an accountant, but I don't think you can expense anything except the taxes and interest from closing --- i.e., your title insurance, legal fees, recording fees, etc. are accounted for as an adjustment to basis.

I like that software

awesome

Great Video! New to QB. Would like to make a journal entry...how do you account for an EMD? My total was actually 1k higher than the actual cash I brought to close. Would I put the number due prior to the EMD being applied where you placed your $103, 449? I apologize if I am unclear.