How To Easily Refund Tenant Security Deposits With QuickBooks Online

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Hello Landlords Bookkeepers! • Please check out our new HVB private practice YouTube channel dedicated to mental health practices. Going forward all mental health videos will be posted on our new channel: • 🔽 🔽 • / @hvb-privatepractice • I'm Laurie Ellison from Hudson Valley Bookkeeping, Inc. We specialize in Real Estate Bookkeeping and QuickBooks consulting. • In this video I will show you how to correctly post a refund to a tenant in QuickBooks Online. • ____ • ❕Book a Complimentary 15 minute Consultation with Laurie❕ • Click the link to Schedule🔽 • https://book.squareup.com/appointment... • _____ • Visit our website: • https://hvbookkeeping.com/real-estate... • _______ • FREE Downloadable Resources for You! • ⬇ ⬇ ⬇ ⬇ ⬇ ⬇ ⬇ • ✔Landlord Chart of Accounts: • https://mailchi.mp/deeeabc1da5e/kvxd6... • ✔Petty Cash Explained PDF • https://mailchi.mp/hvbookkeeping/i1j2... • ✔CAM Spreadsheet: • https://mailchi.mp/bcf2cfdb5e15/cam-r... • ✔Sample Property Management Statement: • https://mailchi.mp/84e8e387b867/g74df... • _______ • If you have any QUESTIONS please feel free to: • Email me at📩 : [email protected] • Call me at📱 : (914)294-2316 • _______ • ❕Check out our 2024 QuickBooks Online Landlord series:❕ • Part One: • 2024 QuickBooks Online Setup for Land... • Part Two: • 2024 QuickBooks Online Setup for Land... • Part Three: • 2024 QuickBooks Online Setup for Land... • Part Four: • 2024 QuickBooks Online Setup for Land... • Part Five: • 2024 QuickBooks Setup for Landlords P... • Use the link below to send me VIDEO REQUESTS: 🔽 • https://us6.list-manage.com/survey?u=... • Happy Bookkeeping! • Time Stamps: • 0:00 Intro • 0:44 A simple refund • 2:20 A partial refund • 3:35 Using a tenants security deposit to pay for repairs • 6:09 Liability account • 7:22 Conclusion • 7:34 Outro • Coaching With Laurie ⬇ • __ • How the Coaching Works: • Lessons have a minimum of one hour and a maximum of two hours. ⏰ • Lessons are conducted via Zoom. 💻 • The lesson will be recorded and sent to you for future reference. 📸 • __ • Scheduling: • I always like to speak with the real estate investor before we meet, so I fully understand his/her needs and concerns to make the most out of their QuickBooks lesson. If you are interested, please: • Email me at📩 : [email protected] • Call me at📱 : (914)294-2316 • __ • Topics Covered But Not Limited To: • Guided Setup for your QuickBooks File • Chart of accounts specific to real estate. • Learning the dos and don’ts of QuickBooks. • Picking the correct version of QuickBooks for your needs. • Guided QuickBooks Clean Up: 🧹 • Fix the Balance sheet. • Clean up duplicate accounts. • Learn how to post in your own QuickBooks. • Learn how to reconcile your bank accounts and credit cards. • Property Purchase and Sales: 🏦 • Posting a purchase or sale of a property. • Learning how to post a flip property. • Property Financing: 💰 • Post a refinance of a property loan. • Learn how to properly post your mortgage payment each month. • Reconcile your mortgage statement each month. • Rent Roll-Specific Income Tracking: 💲 • Creating a chart of accounts appropriate for rental properties. • Create income codes specific to your rental units so that you can run a rent roll P L. • Learn how to automate rent invoices for your tenants • Learn to receive payments against rent invoices. • Expense Tracking: 🏨 • Track income and expenses specific to certain buildings or units. • Determine if you need to use class tracking. • Security Deposits: 👨‍👩‍👧‍👦 • Record security deposits in your QuickBooks specific to each tenant. • How to give a partial security deposit refund to a tenant. • Fix security deposits in your QuickBooks. • Property Management: 💻 • Post property management statements in QuickBooks. • Reconcile property management escrow bank accounts. • Disclaimer: This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Hudson Valley Bookkeeping, Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Hudson Valley Bookkeeping, Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.

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