Method for tracking income/expenses

[David Stone]

Hi, I was wondering what people used to track the income, expenses, late fees, etc for their rental properties.  I have 5 units currently and am using a word document I created to track everything, but it is getting quite full.  I am looking for an easy to use source, possibly an excel template.  If there's any good programs/apps out there that aren't unreasonably priced, I would be willing to look into some suggestions.  Thanks!

[Jake Hottenrott]

@William E. See the attached image for an example from the excel template I send out to my clients.  It has the main categories as drop downs in each month and it automatically totals each month and drops it in the summary.  It makes my life much easier come tax time.

@Daniel Hyman you are exactly right.  Quickbooks is a great program and can be customized to suit nearly anyone's needs.  I prefer to let my clients do their own bookkeeping at first and set them up with a basic system.  That when they understand what is needed and what goes into it when it comes time for my team to take that task off their hands as they grow.