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Updated over 6 years ago, 07/26/2018

User Stats

36
Posts
11
Votes
Caleb Clay
  • Lexington, Ky
11
Votes |
36
Posts

How do people manage their bank accounts, spreadsheets etc.

Caleb Clay
  • Lexington, Ky
Posted

I currently have 2 properties and plan to refinance both of them soon. I am a "B type" person and struggle with organization skills. I have one main checking account for my LLC to help separate it from my personal banking. I plan on buying multiple properties in the coming months but being able to keep up with everything is already a challenge. Any suggestions on processes or systems that make everything much easier?? Also, I would like to note that I do not know how to use Excel.

Some questions I have:

-Should I have separate accounts for each property?

-How or where do people scan in physical receipts?

-What is the best way to calculate and keep track of all expenses and cash flow both monthly and yearly for each property?

-What is the best system to be best prepared come tax season as far as having everything organized for my CPA and having the documentation I need in case of an audit?

-Where are state specific lease agreements that I can access for land lording? 

Any advice will help. I am currently shopping for a PM to help me with this but would like to know what people do managing their own stuff. Thanks!

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