Quickbooks Desktop

Hello - me again.

I am new to OR but have been using QB Pro Desktop 2016 for many years.
I really like the class option that let's me show separate columns for each property and for misc income.
Now the kicker.
OR only uses Quickbooks Online. This means you need to pay $60 a month to get that feature that I used to get included with the desktop.

I want to make a request to integrate both Online and Dektop and I am willing to be the beta-tester Guinea Pig to get it done.

Is there any documentation on how they do that?
I was just on the phone with QB - no deals after 1st year. Just wanting class will make you pay $720 a year.
Do most people just consolidate all their properties into one line?
What level of QB Online do most use?
Do you have reports that can break down the properties into columns by income and expense? I kind of doubt that.
Any other accounting options?

Is there a plan to integrate with desktop? The article I read said online only.

I'm curious how anyone would choose to use QB online. When I've looked at pricing it's $30/month for a year, then $60/month afterwards, and those prices are per entity.

I use quickbooks desktop for 3 entities, so my eventual cost would be $180/month which is vastly more than the cost of QB desktop (maybe $125/year with updgrading every other year)

Yep, it is a tradeoff between price and convenience for sure. There's a lot of time savings with being able to log in from anywhere and share with multiple users, so you've got to factor that into the equation. And a lot of people use QBO just because its the de facto standard -- nobody every got fired for buying IBM and all that. I'd bet they have a bulk discount for several companies at once, maybe something through their Accountant program.

There are others like https://www.waveapps.com/ and https://www.xero.com/us/ that some folks use, with different features compared to QBO. I've used both of those for smaller companies and they worked great.

Here's my simplistic view...

- Deposits on Rentals - INCOME
- Invoice Posting - DON'T CARE ITS JUST AN INVOICE
- Handling Credit Card Payments that get imported as 3rd Party payments (Lynnbrook vs Guest Name) - INCOME
- Credit Card Fees - FEE (but you may not see this)
- Security Deposit, whether in cash or as a Credit Card Authorization - TYPICALLY IS OFFSET BY REFUNDS. ANY POSITIVE==INCOME
- Refunds of the Security Deposit - SEE PREVIOUS

If you do direct bookings and accept credit cards, just put those fees against some kind of FEE account, probably those are useful to reduce income.

An accountant primarily cares about how much you earned in income, and then they'll look at your expenses and see if any of that can offset your financial picture, perhaps by reducing income or by adding to the cost basis of your property (ie: repairs).

You'd be pretty close if all you did was put income in one quickbooks account and expenses into another, no need for tracking guest names or anything more fine grained.

None of the above addresses sales tax payments, maybe that's part of your question? In the state of CO I've been told that you don't need to pay sales tax on the amount due to cleaning. I personally have been paying that in the past, but next quarter I'll look more closely.