I need help with setting up company. I've been reading about classes, customers, and jobs and I am totally confused.
I have a mobile home park that rents lots to home owners. I also have park owned homes which are rented to tenants, tenant pays home rent and lot rent.
I also have park owned homes which are being sold with owner financing--meaning I am receiving lot rent and a note payment. Also, mini storage with units being rented to some park tenants.
How do I set this up. This is my idea--
4 Classes: Lot rent, Mini Storage, Home Rental, and Note Payments Received
Customers=Tenants (Individuals)
Jobs=Each individual Home and each mini storage unit and each lot space. Maybe also do job types: rental home, financed home, mini storage, lot space????
OR: would I do sub classes for each individual lot space, storage unit, rental home, and finanaced home.
I think it would be a good idea for you to check with your local community college and see if they offer a class in QuickBooks. Ours (here in NC) offers one online. The thing is, if your setup is wrong to begin with, then the information from your program is worthless!
I don't know that class tracking is the way to go for your type of business; and please understand that notes receivable are quite different from rental income.
Maybe check into an accounting primer class? It's time well spent and will provide you with a great understanding of your business's books.
I would check to see if there is a Certified Pro Advisor in your area, or possibly check with your CPA's office to see if they can advise you on proper company setup.
Rhonda, did you get your mobile home business set up? I'm trying to set up a homeowners association and I am asking about the same question as you. I want to keep records by Lot and not just by customer=howe owner. I need to know if the Lot has paid their dues because the customer/homeowner could change in the middle of the year and we don't want to charge the 2nd homeowner again.
