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Updated about 1 year ago,

User Stats

12
Posts
2
Votes
Jay Cho
2
Votes |
12
Posts

Book keeping HELP!

Jay Cho
Posted

Hello all

I have 5 rental properties(12 doors)

and I have been using spread sheets and an account book app but it's getting a huge mess and I would like to get prepared for upcoming tax filing. 

I  have 5 different bank accounts for each property and one credit card that I use for all my rental business for repairs, services.

When I get rents from tenants, I auto deposit all rent into one account and distribute to each for mortgages, property taxes and insurance etc. Any cash flow or left over is sent to another account to pay back the credit card or futher investment.

 Since I use one credit card for all my properties and all the money is mixed together, it is hard for me to keep tract of the ins and outs of the income and expenses. 

I have been manually adding all the transactions to the account book which is really time consuming. 

do you have any good suggestion?

any course , youtube video, books you recommend?

Thanks you

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