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Updated about 4 years ago on . Most recent reply

User Stats

130
Posts
137
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Satyam Mistry
  • Investor
  • Omaha, NE
137
Votes |
130
Posts

Accounting for SFR Portfolio

Satyam Mistry
  • Investor
  • Omaha, NE
Posted

Hello, I currently use a combination of Cozy and bank statements for accounting for 13 units (mostly SFR) I currently have, but am looking for suggestions on what may be best moving forward with a growing portfolio.

I like how easy Cozy is to use and you can use someone without accounting experience to add in appropriate expenses for each property each month. I also like how specific it can be for each property to see how it is performing. However I feel this may not be the most time efficient way as you must manually enter everything in and I am left with some expenses that are general expenses for my LLC and not tied to a particular property.

I know Quick Books is widely used, but feel this requires more of an accounting background to be able to successfully operate and is not something I am interested in doing myself. 

What do you recommend?

- Outsourcing to an accountant to do everything through Quickbooks?

- Continue using Cozy along with Google Sheets for the remaining expenses that are not tied directly to a property?

- Any other software or accounting process suggestions?

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