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A
ahmady-elahe
March 26, 2024
Question

I have few LLC for each property and have to track p&L and balance sheet separately. Do I need different QB accounts or can this be done with classes?

  • March 26, 2024
  • 1 reply
  • 0 views
I am doing different things as Real Estate agent, managing  my three rentals which each is separate LLC, and also improve property (renovation), can bookkeeping for all of these be done in one QB plus account? do I have to get separate for each LLC?

1 reply

4
4Gal
March 26, 2024

Using the class or location feature is the workaround you may consider in QBO Plus or Advanced. But I would recommend using QB Desktop to manage multi company files.

A
ahmady-elaheAuthor
March 26, 2024

Thank you, do you recommend class or location? Couldn’t really find out the difference. on the same property that I have rented. I’m also working on investment part which is getting permit and renovation. I don’t know if that will change anything  in which one is better fit. 

so is a separate full balance sheet a possibility with QB pro account? I’m paying $90 currency and I don’t want to add another one if not necessary. 
I would be more comfortable with QuickBooks online as I will have access without losing data. I don’t know how desktop can give you this piece of mind if someone else has your books. 

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