Tips on Organizing Book Keeping

[Taija Walkowiak]

Hello,

I am newer to bigger pockets, and I was searching the site for books, tips or spreadsheets to help me come up with a process to streamline book keeping. I do use quick books right now but I am not finding that works as well as I want it to. I currently have 1 rental house that is rented, I am remodeling my second property now and on the hunt for the next. I am looking for tips or tools on how to make sure I keep everything straight for each project and also keep general business expenses separate. I want to make sure I am able to track exactly how much money I spend on each individual property obviously for tax reasons but also to analyze my ROI. What I have been doing so far has worked, but I feel like it is not much more sophisticated than the shoe box full of receipts method. I would like to approach this area as proactively as possible, my fear is that we will eventually have multiple rehabs going at once and staying on top of managing my own properties too will become overwhelming without processes in place before hand. Any tips, tricks or tools you can suggest would be greatly appreciated.

Thank you,

Taija

[Dawn Anastasi]

@Taija Walkowiak many investors use Quickbooks for their accounting.  Alan was correct that "classes" are what you should be using.

There's a woman named @Account Closed who is known as the "Quickbooks Queen" and she posts regularly on here. She might be able to offer some "tips and tricks" for you.