Скачать или смотреть Don’t post your property purchase wrong in QuickBooks!

I'm Laurie Ellison from Hudson Valley Bookkeeping, Inc. We specialize in Real Estate QuickBooks coaching & Commercial Real Estate bookkeeping.

Buying a rental property or new office? Don't just dump the purchase price into QuickBooks! You're making a costly mistake that messes up your balance sheet and tax records.

I see so many people mess this up: they fail to separate the closing costs correctly. You must break out your Title Fees (true property costs) from your Loan Fees (financing costs). Why? Because some things are immediately expensed (like prepaid taxes and utilities), while others become long-term balance sheet items!

Watch this video to learn the critical steps you need to take when posting your property closing documents

⏱️ Timestamps
0:00 – Intro: Hudson Valley Bookkeeping & what we specialize in
0:11 – The Common Mistake: Not properly posting all closing costs.
0:39 – Source: Use closing documents for the full purchase cost.
0:44 – Title Fees: Post title and closing fees as balance sheet item.
0:56 – Loan Fees: Post loan fees as a second separate balance sheet item.
1:00 – Why Separate: Loan fees are amortized differently for refinancing.
1:10 – Expense Note: Closing fees are not immediately expensed.
1:21 – Immediate Expenses: Taxes, utilities, and HOA fees are expensed right away.
1:29 – Action: You must line-item the closing posting.

❕Book a FREE 15 minute Consultation with Laurie❕

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https://hvbookkeeping.com/real-estate...
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FREE Downloadable Resources for You!
⬇ ⬇ ⬇ ⬇ ⬇ ⬇ ⬇
✔Landlord Chart of Accounts:
https://mailchi.mp/deeeabc1da5e/kvxd6...
✔Petty Cash Explained PDF
https://mailchi.mp/hvbookkeeping/i1j2...
✔CAM Spreadsheet/Reconciliation Workbook:
https://mailchi.mp/bcf2cfdb5e15/cam-r...
✔Sample Property Management Statement:
https://mailchi.mp/84e8e387b867/g74df...
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Do you need more guidance setting up your QuickBooks?
We do QuickBooks COACHING on Zoom!
Email me at📩 : [email protected]
Call me at📱 : (914)294-2316

Disclaimer: This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Hudson Valley Bookkeeping, Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Hudson Valley Bookkeeping, Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.