Quickbooks "Statements" or "Invoices"?

Rehabbing, Fix and Flip, Rental Properties
1

Hello all,

I’ve been using QB for several years for tracking income/expenses associated with my rental properties. However, I’ve never really used any of the corresponding features of the program to generate statements/“receipts” for tenants, etc.

I have a system where I maintain a monthly statement/receipt for each tenant - in MS Word. The statement itemizes their history of payments/charges, etc. and I distribute a copy to each tenant each month. It’s an “okay” system but the more units I have, the more labor/time intensive it becomes.

I’d like to find out if something similar to this is available thru QB in such a way that I can save some time.

I know that there’s other software out there that might be better tailored to landlords than standard QB Pro - but I’m pretty sure that QB Pro has what I need - I just need to figure out how to use it. And I’d like to avoid having to completely switch programs unless it’s ABSOLUTELY necessary.

Would what I’m looking for be considered an “invoice” by QB’s standards? a “statement”? “receipt”? If I have each tenant/unit classified as a “customer” (or whatever) and enter their individual rent payments individually into the QB check register, would that enable me to easily create the kind of “receipt/statement” that I’m trying to describe?

I’m not sure how clear any of that was - but any help would be appreciated.
Thanks.

2

In QB Pro, you can separate your properties into “classes.” You just set up a separate class for each property. You can make an invoice and apply it to that class. I’m still pretty new to QB Pro, but I think that may be what you’re looking for.

3

Thanks for the tip.

Let me give an example of how I have my accounts set up in QB. In one “company”, I track the income/expenses of a 12-unit building with 12 different tenants. If possible, I’d like to be able to easily generate a monthly statement/receipt for each of those tenants - detailing rental payments that they’ve made, late charges to their accounts, service call/repair charge, etc.

Would the “classes” feature help me accomplish that - or would that only be useful for individual SFH, where each individual address would be like its own little entity?

Thanks again. I know I need to play around with these features in QB more - but I find it time consuming, and people on this site often offer great advice that will save me time.