ID INSIGHTS
Without question, one of the most common questions among real estate investors and their bookkeepers is: "Should I capitalize this cost or deduct it as an expense" I'll break this down and show you...
Many mortgages require that you pay a monthly amount toward Tax & Insurance every month. Check out this super simple method for recording these escrow payments as well as the payments coming...
Following up on the Cash purchase, this video demonstrates how to purchase a property with financing. Specifically, we'll hit
- Capture the Loan as a LT Liability
- Differentiate loan costs from...
Let's get back to basics with a quick-hitting demonstration on how to record the purchase or property in QBO.
- Generic Chart of Accounts
- Record the Purchase Deposit Ahead of Time
- Differentiate...
By default, QBO will categorize all your payroll costs as Expenses. But what about the labor that we sell to our customers? We should be accounting for that as Cost of Goods Sold. Check out my...
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