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Updated almost 3 years ago on . Most recent reply

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1
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1
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Jacob Ray
1
Votes |
1
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Looking for good class to understand Quickbooks Online for RE Inv

Jacob Ray
Posted

I am trying to better myself on Quickbooks Online for bookkeeping etc. What is the best class to learn. It seems people who invest into RE do their books a bit different. Any suggestions?

Thank you

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51
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32
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Ragan Manning
  • Accountant
  • Houston, TX
32
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51
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Ragan Manning
  • Accountant
  • Houston, TX
Replied

I'm a REI bookkeeper so I disagree with the statement above. I have clients using other software and it doesn't match to the capabilities of QBO. Honestly their books aren't correct because of it so they don't benefit 100% with their taxes. If you want to DIY your bookkeeping, look up Income Digs. I think he does a great job of breaking it down but make sure he goes over your type of investing. (Wholesaling, flips, str, etc,) If you are still small enough to do your own bookkeeping then do it! Not everyone needs a bookkeeper or the expense of it. You can always use your resources and connections if you ever get to questions you can't answer. YouTube will be a huge asset to you. Hector Garcia was mentioned above. I think he is a master at what he does but the stuff he is put out about REI isn't the best. He leaves a lot of blanks open and he does give some miss information. There is a reason people niche in bookkeeping for just REI and it's because it's very specific on how to run the business. Looks for YouTube video from people who just do bookkeeping for REI or even brokers. Nerd Enterpise is another great one

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