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Updated over 5 years ago on . Most recent reply

User Stats

70
Posts
28
Votes
Sara Abernethy
  • Investor
  • Hummelstown, PA
28
Votes |
70
Posts

What do you use for bookkeeping?

Sara Abernethy
  • Investor
  • Hummelstown, PA
Posted

I have 5 doors and about to purchase 3 more (plus I have a FT job and freelance on the side).  Plus I'm just honestly not the most organized person.  I'd like to simplify by taking bookkeeping off my plate.  Does anyone have any recommendations?  I tried Upwork, but there's no consistency of quality there.  I talked to Bench.co, but they aren't cost efficient for real estate.  I'm still super small, so I don't want to spend a lot of money on this, but if I close this next deal, it's going to overwhelm me.  

What do you all use for bookeeping?

Most Popular Reply

User Stats

29
Posts
11
Votes
Kevin Schulz
  • Vendor
  • Ludington, MI
11
Votes |
29
Posts
Kevin Schulz
  • Vendor
  • Ludington, MI
Replied

QuickBooks on-line is the way to go.   Some of the benefits have already been mentioned, but there are more!    You can setup accounts payable and rental income expectations out a year or 2 and forecast cash flow.   You can keep track of rental income / late payments with invoicing.   You can get good profit and loss statements by property...etc.

The real key though is getting it setup properly to automate as much as possible.  The QB phone apps are really good.   There are online bookkeeping/financial services that can help you do this right.

 Good Luck!

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