Recomendations on bookkeeping while using a property manager

[James Feely]

I need advise on how to setup bookkeeping for a property that is professionally managed. My property manager uses an online portal from propertyboss.net that will generate some reports, transaction history as an excel file, and supporting documents like invoices. I also have a few business expenses like mileage and travel expenses that I incur outside of the PM documentation.

The solutions I saw from searching were for property managers, not for investors that use property managers. Advise from folks who use property managers is greatly appreciated.

[Cathie Kovacs]

I would set up your own bookkeeping system (QuickBooks?) and then enter the property management activity as a monthly summary. This way you captured it all in one place. Granular details on tenants etc. are not in your bookkeeping system (would be redundant). 

Full disclosure: I’m a bookkeeper and do not use property managers (I self manage).