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Abandoning Quicken Rental Property Manager to use Quickbooks.

  • katrina
    I have been using Quicken RPM (2009) for several years. I have been using QB Pro (2011) even longer for a small business that we have been running for 35 years. We are now closing that "business" and growing the rental property business. I would like start using QB for our rental property business, and move all the rental property info (bank accounts, vendors, etc) from Quicken RPM. Is this possible, or do I just start fresh in January 2012 by setting up all new rental accounts in QB?

    Also, one of the features I do love in QRPM was the free document attachment feature. QB 2011 charges a fee for that even if it's local storage. QB 2012 now includes that feature (only local storage) with the program. I guess I'll have to upgrade again! :(
  • Hello Katrina,

    Thanks for the message. Can you share why you want to move off of RPM for your business? I'm curious if your frustrations are similar to the other people's I've worked with, or if there are different problems that you encountered.

    Either way, probably switching over in Jan 2012 is the easiest way. If you want to export, it is probably possible, but the question is what benefit will you get for the cost in additional effort. If you have all historical transactions available in RPM, and new transactions in QB's, then everything is still available, and you did not have to migrate old data into a new system.
    By Jonathan Wolter Google+
    Author and ProAdvisor. Landlord Accounting eBook and sample files. ♥ Read Testimonials ♥
    QuickBooks Easily Mastered for Landlords, Property Managers, and Investors.
  • katrina
    As stated previously, I have used both programs (Quicken RPM and QB Pro) for several years. I have found that the reports in Quicken RPM are very clunky compared to reports that I've always been able to create in QB. Now that we will be switching over to QB Pro for the RE property,I believe my reports will be more concise, accurate, and I won't have to re-invent the wheel every time I need a report.

    I also don't like the fact that Quicken RPM is a glorified personal finance program and therefore there is a greater chance of mixing of personal expenses with business expenses. Reports can become muddled because expense items that should be listed, have been miscategorized under personal expenses. QB Chart of Accounts is a much better and more accurate way to allocate expenses then Quicken RPM "categories".

    I feel that I have been "flying by the seat of my pants" using Quicken RPM for the last several years. I am looking forward to doing it right this time by purchasing your ebook and setting up my RE property business using your guidelines.
  • We recently wrote the following blog article with more information about Quicken Rental Property Manager and QuickBooks:

    Take a look there and feel free to leave a comment there or here on the forum. Thanks!
    By Jonathan Wolter Google+
    Author and ProAdvisor. Landlord Accounting eBook and sample files. ♥ Read Testimonials ♥
    QuickBooks Easily Mastered for Landlords, Property Managers, and Investors.
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