I have small Real Estate portfolio and now have the Quicken Real Estate version

Billwny
Billwny Quicken Windows Subscription Member
edited March 2023 in Business and Rental Property Tools (Windows)
Question for Quicken Conversion
Currently I have my Real Estate Portfolio on Quickbooks that I’d like
to covert to Quicken

All entries are made by journal entry with the contra to a Clearing Account.
Example Rent Income ( $1,000,00) Clearing $1,000.00 by Property
Property Taxes $300.00 Clearing ($300.00) by Property

There are no bank accounts used and therefore no bank recs
There are no tenant file details – only the property ID
There are no receivables or payables. No invoices, no billings
No Balance Sheet except for Fixed Assets,

Journal entries are generally made at the end of each month for
receipts and disbursements. Property additions/disposal are
also recorded by Journal Entry – again the contra is Clearing.

At end of year depreciation is recorded from a Fixed Asset System
with Dr to Depreciation Expense and Cr to Accumulated Depreciation.

Quickbooks allows me to make a single journal entry with multiple
lines of input transactions that include a separate transaction
line for income (or expense) $ amount, Category and property TAG

Quickbooks then captures these amounts by Category type
and by property so that I can get an income/expense statement
in total and by property.

Can Quicken do the same? I saw where Quicken doesn’t accept
input from Excel or CSV files. But I see where Quicken has TAGS
that would operate similar to CLASSES in QuickBooks.

I only need to create journal entries each month with
Revenues/expenses Categories by property (TAGS)

Do you have suggestions on how I might handle my Real Estate
activities in Quicken?

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