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Posted by joe on May 12, 2008, 11:36 am
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I would suggest using a spreadsheet. It appears you want to
not only keep track of a bank balance, but also do project
management (i.e. phases and dollar allocation). Most likely
there will be other things that you will want to keep track.
A spreadsheet will allow you to easily add/change as well
as visually see where each project stands.
ellencbraun@gmail.com wrote:
> I have started a real estate management company, and thus far all my
> accounting is done with a pencil:(
>
> I own Quicken and use it for my personal bank account.
>
> These are my needs for the business; can I accomplish them in Quicken?
>
> I am managing, say, 10 properties at a time, using one bank account.
>
> Mr. Jones gave me $10,000 to fix up 123 Elm Street.
>
> Mr. Smith gave me $18,000 to fix up 456 Maple Avenue.
>
> Mr. Jackson gave me $24,500 to fix up 789 Main Street.
>
> I have hired Steve's Construction to do Phase 1 of the Elm Street
> project. Mr. Jones has allotted $4,000 for Phase 1, and Steve is
> charging me $3,000 for the labor. My profit for Phase 1 is obviously
> $1,000.
>
> Now, Mr. Smith has given me $18,000 for the entire Maple Avenue
> project, and Mr. Jones still needs to give me another $6,000 for his
> Elm Street project.
>
> I don't want to accidentally use Mr. Smith's money for Mr. Jone's
> project.
>
> Nor do I want to open a new bank account for each project.
>
> I can use categories within Quicken to keep each deposit and
> withdrawal linked to the address of the project.
>
> Yet, how can I see, at a glance, within one bank account, how much
> money that I have is allotted to each project?
>
> Thank you very much!
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