How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jade Adams Your Own Question
Jade Adams
Jade Adams,
Category: Financial Software
Satisfied Customers: 15
Experience:  Full Charge Bookkeeper at Waterpoint Marina
Type Your Financial Software Question Here...
Jade Adams is online now
A new question is answered every 9 seconds

QuickBooks Online. Have you implemented a multi-tenant

Customer Question

QuickBooks Online. Have you implemented a multi-tenant system?
Submitted: 1 year ago.
Category: Financial Software
Expert:  Mark Taylor replied 1 year ago.

I am assuming that you are asking how to set up a rental property with multiple tenants in QB Online.

Expert:  Mark Taylor replied 1 year ago.

You can setup all your properties into QB Online as a class.

You can setup your tenants as a Customer

That you can enter personal information such as how much rent they pay, rental move in date, Security Deposit Paid, and Move Out Date, and much more by clicking on the Define Fields in the Tenant/Customer Folders.

You can enter property information such as date of purchase, square feet, taxes, insurance and more in the Fixed Asset Manager Section of QuickBooks.

You can keep track of all your Credit Card Purchases in QuickBooks and balance them just as you would your checking account.

You can see how much money you spent for each rental by clicking on the Profit and Loss Report or by Clicking on Reports by class.

Expert:  Mark Taylor replied 1 year ago.

And if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. You find the rating bar on the top of the page – 5 stars. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.

Customer: replied 1 year ago.

Not a Rental Property.

Multi-tenant refers to SaaS QuickBooks with multiple locations entering data for multiple entities.

Is that more clear?

Sorry for any confusion

Expert:  Mark Taylor replied 1 year ago.

Thank you. Let me see what I can find out.

Customer: replied 1 year ago.

Appreciate it!

Expert:  Mark Taylor replied 1 year ago.

Hi, I have been looking and have not been able to find anything that would be helpful. I will continue to look but I am going to opt out for the time being. Perhaps another expert will have more information.

Expert:  Jade Adams replied 1 year ago.

Unfortunately, QuickBooks isn't really designed to handle multiple entities. They dont have intercompany features in any of their versions. The class feature can be used, but there can be some problems with doing that. The class feature should be thought of as a way to divide a single company into many divisions only.

A solution might be to set up one QuickBooks file for all entities and then post journal entries in each company file at the end of the month. Or you may need to look for a different accounting software that features what you are needing.

This probably isn't the answer you wanted to hear, but I hope I provided you with the information you were seeking. If you are happy with my service, please provide a rating. If not, please let me know and I will continue to help you.

Thank you.