CAM Expenses Belong in COGS—Here's Why скачать в хорошем качестве

CAM Expenses Belong in COGS—Here's Why

Hi, I'm Laurie from Hudson Valley Bookkeeping, Inc. Are CAM reconciliations your least favorite part of January? In this video, I’m showing you the exact Chart of Accounts structure I use for my commercial real estate clients to make CAM reconciliantion season painless. Learn how to segregate expenses and automate your reporting so a tenant audit never scares you again. Most self-managed real estate investors struggle with CAM because their books are "mingled." I break down why you should treat CAM expenses as "Cost of Goods Sold" (COGS) and how to separate your base rent from estimated CAM payments in QuickBooks. What we cover: Why your lease is the ultimate rulebook for proportionate shares. The "Cost of Goods Sold" hack for segregating building operating costs. Why rounding your percentages is a major audit risk. Managing "G&A" vs. "CAM-allowable" expenses (Legal fees, accounting, and commissions). How to handle tenants who weren't there for the full year. ________________________________________ Time Stamps: 00:00 Intro 00:40 - Setting up your Chart of Accounts for success 01:15 - Proportionate Share: Why you should NEVER round percentages 02:25 - Separating Base Rent vs. Estimated CAM Income 03:40 - The Secret: Moving CAM expenses to Cost of Goods Sold (COGS) 05:03 - General & Administrative (G&A) vs. Operating Expenses 08:00 - Wrap up: How to get the CAM Workbook ________________________________________ Hi, I'm Laurie Ellison from Hudson Valley Bookkeeping, Inc. We specialize in Real Estate QuickBooks coaching & Commercial Real Estate bookkeeping. My mission is to help self managing real estate investors get their time back by mastering their finances. ________________________________________ 👇 BOOK YOUR FREE CONSULTATION 👇 I always speak with a client before scheduling to ensure we are a perfect fit. Click here to schedule a free 15-minute chat: https://hudson-valley-bookkeeping-inc... ________________________________________ Do you need more guidance setting up your QuickBooks? 👇We do QuickBooks COACHING on Zoom!👇 Email me at 📩 : hello@hvbookkeeping.com Call me at📱 : (914)294-2316 HOW THE COACHING WORKS: Time: Sessions are 60–120 minutes via Zoom. ⏰ The Asset: The session is recorded and sent to you. You will have a permanent reference video of us fixing your specific books. 📸 The Result: We stop the "guessing game" and ensure your data is tax-ready. ________________________________________ WHAT WE FIX IN A SESSION: We tailor every session to your portfolio. Common issues we solve include: 🏗️ Commercial Real Estate Setup Customizing the Chart of Accounts specifically for Real Estate. Selecting the correct QuickBooks version for your portfolio size. 🧹 Clean Up & Tax Prep Fixing the Balance Sheet and removing duplicate accounts. Reconciling bank accounts, credit cards, and mortgage statements. 💰 Buying, Selling & Financing Correctly posting 1031 Exchanges, property flips, and new purchases. Handling refinances and recording monthly mortgage payments (Principal vs. Interest). 🏢 Rent Rolls & Tenant Tracking Creating "Products/Services" to run a Rent Roll P&L. Automating rent invoices and receiving payments. Handling Security Deposits (recording, refunding, and fixing errors). 📋 Property Management How to post Property Manager statements into QuickBooks. Reconciling Escrow accounts. ________________________________________ FREE Downloadable Resources for You! ⬇ ⬇ ⬇ ⬇ ⬇ ⬇ ⬇ ✔Landlord Chart of Accounts: https://mailchi.mp/deeeabc1da5e/kvxd6... ✔Petty Cash Explained PDF https://mailchi.mp/hvbookkeeping/i1j2... ✔CAM Spreadsheet/Reconciliation Workbook: https://mailchi.mp/bcf2cfdb5e15/cam-r... ✔Sample Property Management Statement: https://mailchi.mp/84e8e387b867/g74df... ________________________________________ CONTACT HUDSON VALLEY BOOKKEEPING: 💻 Website: https://hvbookkeeping.com/real-estate... 📧 Email: hello@hvbookkeeping.com 📱 Call: (914) 294-2316 ________________________________________ Disclaimer: This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Hudson Valley Bookkeeping, Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Hudson Valley Bookkeeping, Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them. Have a great day! Laurie Ellison