REOPro - Real Estate Default Professionals

America's Largest Social Network for Default Real Estate Professionals

Setting up your REO Properties as Projects in QuickBooks

I've been using QuickBooks since its inception back in the 80s. In fact, as I was reorganizing my library of software programs and toys, I sorta drifted back to the beginning of my program collection such as my old versions of SuperCalc 4 and 5, MS Office DOS Version (1988 and 89 Copy), QuickBooks 1988 - 2006, Quicken Invoice DOS and Windows (initial Copies), and more. Ok, back to the topic.

I prefer the method below because it allows me to accurately track each property expense, I can apply the property to the vendor job, and when the reimbursement arrives, I can easily retrieve a list of all reimbursements submitted when I begin to type in the property address. NO MORE SEARCHING THE INVOICE SECTION!!!!!

How to setup you REO properties as projects:

  • Create each REO Bank as a Customer in QuickBooks.
  • Right click on the Customer name (Bank) located in the left margin.
  • Select "Add Job".
  • Input the property information as follows: property address-asset number (999 Mockingbird Lane - ALS123456789.
  • Complete as much of the page info as possible.
  • Save the setup.


  • Us the Custom Field in the "Additional Info" tab to add your commission information.
  • As you create new jobs for each project, list it under the "Job Info" tab, this includes the utility deposit, connection fee, membership fee, account number information.
  • Always include the street address and asset number. Most if not all banks require the address and asset number on each invoice.
  • You can easily create multiple jobs under each Project (Property file) for easy tracing of work in progress, pending, completed, cancelled, etc.

Carolyn Nelson
Online Real Estate Assistant

Views: 188

Comments are closed for this blog post

© 2019   Created by Jesus (Jesse) Gonzalez.   Powered by

Badges  |  Report an Issue  |  Terms of Service