I don't know much about computers. I’m very grateful for those guides.The classes I took with Alicia on QuickBooks for Mac was very informative. Also, this book is a generation of other guides that came before it. I’d like to thank the other members of the QuickBooks for Mac team, especially Brooks Bell and Devon Hubbard. 2 QuickBooks for Mac 2020 User’s Guide Acknowledgments No single person can write a guide of this size and scope.
![]() Class Tracking In Quickbooks Plus Maximizing TaxIt includes all the features of the previous plan plus maximizing tax deductions, managing cash flow, running general reports, sending estimates, tracking sales and sales tax, and managing 1099 contractors. Simple Start – The next step up is the Simple Start for $25 a month. Self-Employed – This plan is $15 a month, and you get all the basic features of Quickbooks, including tracking finances, organizing receipts, invoice and payment acceptance, tax estimates, running basic reports, and tracking miles Quickbooks Pricing PlansQuickbooks has four different pricing plans you can choose from: If you don’t want to use Quickbooks, you can use another system or an Excel spreadsheet. Payroll Add-On – This is an optional add-on that you can get for $45 a month, plus $2 per employee on your payroll.I use the Simple Start plan with the Payroll add-on. You get all the features of the previous plans plus the ability to add up to 25 users, get access to business analytics and insights, batch invoices and expenses, customize access by role, exclusive premium apps, a dedicated account team, on-demand online training, restore company data, and automate workflows. Advanced – This plan is $150 a month. It includes all the previous features plus managing and paying bills, tracking time, the ability to add five users, tracking project profitability, and tracking inventory. Petty Cash – this is all the cash I have in my wallet at the moment, which I take out of my business income. While these categories have worked best for me, the ones you use for your own business might look different. How I Organize My Quickbooks – Recommended CategoriesUnder “Chart of Accounts” you’ll see a list of every single type of account, income, and expense associated with your Quickbooks, organized into relevant categories.Below are all the categories I use in my Quickbooks for real estate agents. Security Deposits – a deposit that I have on a lease for an office building. eXp Stock – a long-term asset that I get through my business. You will also have to track the depreciation of these assets over time, which an accountant can help you do. You can create subcategories for buyers and sellers if you want to see how much income you get from each one. Kyle Handy Income – this is my own personal income from closing homes. I’m set up as an S-Corp, so consult your CPA to see if this is an option for you. Owners Draw – a separate form of income that I pay myself depending on if I earn any income apart from my normal salary. Loans and Liability – I track the loans that offset the costs of my vehicle. Payroll Liabilities – if you have employees or categorize yourself as an employee of your own business, purchasing the Payroll Add-on might be useful to help you track expenses associated with payroll. Revenue Share Income – income that I get from my eXp Realty revenue share. Mentor Income – income from eXp for being a mentor to other agents. As sub categories under Level 2 income, I have a category with each name of my agents. Education and Dues – expenses associated with lodging and traveling to a training or conference. Also, this category includes the commission split I pay my brokerage. For example, if you are a team leader and earn a commission from an agent working under you, you have to pay them their split right away. Cost of Goods Sold – This is a type of expense directly related to the income you are earning. However, I try not to use the uncategorized label because it’s too vague. Payroll – These are expenses for any kind of real estate agent salary that you might have. Office Supplies and Operations – expenses for accounting and tax preparation, brokerage fees, charitable contributions, insurance for business insurance, interest expense, office operations, office supplies, rent expense, other expenses, state sales/franchise taxes, LLC taxes. Marketing and Lead Generation – expenses for advertising, business meals and entertainment, client parties and happy hours, closing gifts, Facebook ads, Google ads, other internet lead generation, photography, and print and direct mail. Games on app store for mac similar to simsClasses in QuickbooksI have two separate Quickbooks accounts: one for my real estate sales business and another for my real estate investment home business. Classifying your transactions will be the bulk of your work when you login to Quickbooks each month. Click “Update” in the upper right corner to pull all the latest transactions from your accounts.When Quickbooks is finished updating, it will show you how many transactions you need to classify. Technology – for any tech-related systems and tools I use in my business.In the menu bar on the left hand side you’ll see the Banking option, which is where you will go to manage all of your income, expenses, and transactions when they get uploaded into Quickbooks. ![]() You should have at least six months of data collected in Quickbooks so you can have an accurate sense of how your business is doing.Use the profit and loss statement to decide what the best use of your time and efforts is. Setting it to month-to-month is most helpful for your business because then you can see the larger picture of how well you are meeting your goals.Once you’ve chosen the filters you want, just click “Run Report.”When you see all the details about your income and expenses laid out in your statement, you can make informed decisions about where to take your business. You can click on Customize in the upper right corner to filter your statement by a specific type of class.You can also customize your Profit and Loss statement to see it broken down by days, weeks, months, or quarters. It’s important to classify your transactions into the appropriate categories so that your profit and loss statement is accurate.Use Your Profit and Loss Report to Make DecisionsUnder the “Reports” tab in Quickbooks for real estate agents, you can find your year-to-date Profit and Loss statement. For example, you can use classes to make a Profit and Loss report that filters out all your real estate sales so you can focus just on the data for your rental properties.If this functionality sounds like it would be helpful for your business, you should consider upgrading to the Simple Start plan.To classify a transaction, simply click on it and then select the appropriate category and/or class that you want to place it under in the drop down menus, and then click “Add.”Go down the list of transactions until you have successfully classified each one. Property 3 – For income and expenses directly related to Property 3.The benefit of using classes, especially if you have multiple businesses within one business, is that you can create reports that are filtered by class. Use this number to see where you can cut back on your expenses next month to try and increase your income. Use your statement to decide to go back to what you were doing before or to try something new.Pay attention to your total income after expenses are taken into account.
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