Is there a way to change the owner for each property?

So the owner shows my quicken.com information, but lets say I have a couple of properties, each under an LLC, they both have different names and address. Is there a way when i print a receipt for each tenant, to show their respective company names instead of what is in my quicken.com info (name & address)?

Best Answer

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Accepted Answer
    Hi @rick31la,

    Not sure that you understand my post, but my suggested 2nd option which is the following:
    Frankx said:

    The more complex route would require that you create two additional Quicken data files - one for each LLC.  This would not require you to change the "lesson/sender" fields, however it will cause your financial data to be split among three different Quicken files.
    ... will NOT require you to change your information every month or at all.  The downside to this is that you'll have a separate Quicken datafile for each building.  But since they are LLC's - they are actual separate legal entities that require, among other things that they each have their own bank account(s) and each file separate tax returns, so having separate Quicken files is actually the "correct" way to do the accounting/bookkeeping anyway.

    Get back to me if you have any other questions.

    Frankx


                           Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
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Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @rick31la,

    Can you give us a little more information so that we an try to help you?

    It seems like you own two different LLC's which apparently each own one property - is that right?  And you apparently want to issue "rent receipts" that have the name and address of the appropriate LLC for their tenants on them - is that also correct?  If I've understood the above correctly, I think that you can do what you want to do.  But the solutions are not without complications because Quicken is designed to be used by one entity (actually one person/family) rather than by a number of entities.

    Probably the least complex way to do this, but the one that will likely require more hands-on editing for each rent receipt, would be to modify the information contained in the "lessor/sender" name, address, and phone number fields of the Rent Receipt produced in Quicken each time that you prepare one through the application.  You could make this a little easier by doing "cut & paste" from a standard text document, but you will still need to change those fields for each receipt you want to generate.

    The more complex route would require that you create two additional Quicken data files - one for each LLC.  This would not require you to change the "lesson/sender" fields, however it will cause your financial data to be split among three different Quicken files.

    Those are my thoughts.  Feel free to revert with questions. etc.

    Frankx


                           Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • danlapin
    danlapin Member ✭✭
    edited February 6
    I just created a test file and if you want to print a receipt for each property you should be able to change the name. Select property & Tenant tab-> create a rent receipt ->select a tenant and when a receipt come up - under owner you should be able to delete info and replace. Let me know if this will work for you.
  • rick31la
    rick31la Member ✭✭
    Thanks for the answers but lets say one of my building has 20 tenants, i have to go in and change it for each one every month, I am looking for a more “permanent” solution for each building. I checked under Preferences and did not see an area to change this.

    @Frankx yes to both questions.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Accepted Answer
    Hi @rick31la,

    Not sure that you understand my post, but my suggested 2nd option which is the following:
    Frankx said:

    The more complex route would require that you create two additional Quicken data files - one for each LLC.  This would not require you to change the "lesson/sender" fields, however it will cause your financial data to be split among three different Quicken files.
    ... will NOT require you to change your information every month or at all.  The downside to this is that you'll have a separate Quicken datafile for each building.  But since they are LLC's - they are actual separate legal entities that require, among other things that they each have their own bank account(s) and each file separate tax returns, so having separate Quicken files is actually the "correct" way to do the accounting/bookkeeping anyway.

    Get back to me if you have any other questions.

    Frankx


                           Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • rick31la
    rick31la Member ✭✭
    @Frankx thanks for the suggestion. Isn’t the owner info tied into the Quicken account? That would mean i need two quicken accounts?
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