Chart of Accounts
Tracking Funds in the Trust Account.
Classes, Customers, Vendors, Divisions
Products and Services
Establishing a Manager Reserve in the Trust Account
Advanced Booking Deposits(Stripe)
Booking Details -Payout After Check-In (Airbnb)
Booking Details-Advance Payment Bookings (Stripe)
Tips for Faster Entry of Booking Data
Creation of Property Ledgers in QuickBooks Online
Billable Expenses (Operations Bank or Credit Card)
Billable Expenses Paid from the Trust Account
Introduction / Using Journal Entries
Creating Invoices to the Owners for Billable Expenses
Creating a Bill to Deduct the Manager Commission
Creating a Bill to Deduct Cleaning Fees
Creating a Bill to Deduct Billable Expenses
Bills to Record Owner Payouts and Review of Ledgers
Invoices to Record Manager Commission/Cleaning Fees
Payment of Owner Invoices
Payment of Manager Bills
Making Sure the Trust Account/All Reports Are Balanced
Creation of the Owner Statements as Custom Reports
Funds to Operations, Paying Owners, Remitting Tax
Handling Owner Reserve Funds
Short-term rental managers that want to do their own bookkeeping but need help with the setup and use of QuickBooks Online
Anyone looking for instruction on how the owner and manager money should flow through the proper chart of accounts categories in QuickBooks Online
Someone that wants to see the individual transactions for a short-term rental management company being entered, not just receive general information on how trust accounting works
Those seeking to do trust accounting with two QuickBooks Online subscriptions
Those using QuickBooks Desktop
Someone whose main focus is learning how to automate the entry of large amounts of booking data
Someone that is focused on learning how to integrate a specific third party software with QuickBooks Online (i.e. OwnerRez, Bnbtally, Streamline, Zapier)
Please note that this course was recorded in 2020 and the current layout of QuickBooks may not match the images used in the course material.
Ryan Gallagher