Registered: 1243184746 Posts: 1
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I just joined the website. We are about to rent our home for the first time. and we starting at the beginning. We are staying very local. This website seems to be very informative so I look forward to spening more time here reading. In regards to bookkeeping. What kind of programs do you use if any at all. It would seem appropriate to seperate all business transactions from personal. I would imagine most to use quick books or quiken. Do you find either one easier to use over the other. Thanks,
Registered: 1169270040 Posts: 3,775
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I actually just use spread sheets. Many LLs use those programs with great success. But I find multiple spread sheets work just as well for me. One spread sheet per rental address, multiple columns for basic types of repairs (plumbing, electrical, appliances, general repairs, etc.) plus columns for improvements, cleaning, adverting, and mileage. And, of course, one for those things that don't fit into any other category (there always is something that just doesn't seem to belong). At tax time, total the types of work done and list it for my accountant ($xxx on plumbing, $xxx for electric, etc.) I send him just the summary statements.
Registered: 1335258852 Posts: 28
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Thanks for sharing, ohlandlord! Your style seems easier and more convenient.
Registered: 1356087031 Posts: 2
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Accounting software's complexity depends on your business corporation that ranges from a simple software for a complex one. You never acquired more featured software if you don’t have a need of it.
Top 2012 Accounting Software for Business FreshBooks QuickBooks QuickBooks Pro QuickBooks Premier 2012 AccountEdge Accounting Software Sage Peachtree Accounting Software __________________ CFO Washington DC | airport parking bwi
Registered: 1379746645 Posts: 18
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Well it's true that Bookkeeping is the very knowledgeable book for having account knowledge. And i am glad that is was in our study part so i can give some answers about this...
Registered: 1425544141 Posts: 1
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Virtual Bookkeeping Firm benefits you with all aspects of Accounts and its problems relevants. __________________ BIlal Shaikh
Registered: 1427539876 Posts: 1
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Well it's real that Accounting is the very experienced guide for having consideration information. And i am grateful that is was in our research aspect so i can provide some solutions about this.
Registered: 1427873611 Posts: 1
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Bookkeeping is more helpful for your site and it is also very knowledgeable too. You can proceed with good one.
Registered: 1405206449 Posts: 178
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I use Quicken, TurboTax and MS Office.
Landlording for maximum profitability and Financial Independence
Registered: 1222178415 Posts: 4
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Should all use QB with a class for each property or separate file for each LLC. spreadsheets are not a proper way to do bookkeeping because there is no reconciliation procedure to the bank account to the financial statements. Quicken does not allow the use of journal entries
http://www.ccscpas.com __________________ sceggel