QB Issue Resolution:
QB Online does not match the ability of Desktop QB to do “Job” management = reporting and tracking costs, income, and even Escrow, with Customer:Job to the levels that matter. For example, if anyone is on Payroll, Job tracking payroll is easy in Desktop, but there is no Job Cost reporting for QB Online for payroll costs, at least, not at this time.
There is no much to do with the Desktop program that is difficult. First, start with the Tax form this entity files; you cannot report what you did not track. This is your Chart of accounts.
The Items are what you make, do, sell, charge, buy, or buy and sell. They link to any/as many accounts as needed. Examples: Escrow activities are going to link to one Other Current Asset account; I like to use Other Charge type items for this, so I can easily report on only those types of activities. This also provides reporting against the Trust Bank account.
Supplies that you pay for and charge to the agents, as yard signs and advertising share of listings and perhaps even their License fees, are Two Sided items: Service items and Noninventory items. Your share of commission is a Service Item, too.
You use Transactions with Names; that means Customer, or Customer:Job. If the Agent is independent, I would put a Customer Name for them, and all of thier Properties are “Add Job” for tracking purposes. They are also a vendor, becaues you need to Pay them their commission and that is typically subject to 1099-Misc reporting.
All of this is really the basics of using QB. Going to Online means most of those same things will be put into place and used. You just Lose a lot of great functions, by moving to Online.
Resolution for Issue 'QB for Real Estate Brokerages' available: Yes (Solved).
Source: Intuit Community forum.
QB for Real Estate Brokerages: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Customer
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