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Updated almost 3 years ago on . Most recent reply

User Stats

3
Posts
2
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Kyle Ross
  • Rental Property Investor
  • Apache junction, AZ
2
Votes |
3
Posts

BOOK KEEPING! Best Practice!

Kyle Ross
  • Rental Property Investor
  • Apache junction, AZ
Posted

HEY GUYS AND GALS!

First off check out my about me to see what I'm up to. 

I'm very thorough about research and cant find anything decent about BOOK KEEPING. 

So far I have found Rentastic (program) (vs QuickBooks) to track or using excel but have not found a good explanation on the topic for taxes

I found the DIY landlord on Youtube that explains schedule E and the categories. 

So basically can anyone recommend a good video, person, explanation, an excel spreadsheet anything would be great. 

Thank you guys for your help! 

Most Popular Reply

User Stats

203
Posts
188
Votes
Mike Smith
  • Boise, ID
188
Votes |
203
Posts
Mike Smith
  • Boise, ID
Replied

@Kyle Ross I would second what @Aaron Zimmerman said.  You should learn accounting and Quickbooks if you want to be a real estate investor.  Many people don't want to use Quickbooks because they don't want to learn accounting fundamentals.  Whether you eventually hire a bookkeeper, or you input data into Quickbooks for the rest of your life, you need to understand accounting fundamentals.  Many unsuccessful entrepreneurs use accounting for taxes only.  Successful entrepreneurs use accounting to understand their business on a weekly or monthly basis.

  • Mike Smith
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