Bookkeeping / Accounting Software

[Chris Seveney]

As my note business continues to expand, I am looking at upgrading my systems that I am using. I have converted from slack to pipedrive for CRM which has been a great experience. My next goal is to transfer from excel (which has done well for me) over to a bookkeeping software. I know a lot of people praise quickbooks and it's what a lot of accountants use so many prefer it, but interested to hear from note investor specifically on what they use. I have heard some people use wave because it is free but challenging for having multiple notes. Also curious why you decided for that software and was any of the decision based off of the fact that a percentage of properties will become REO's which may be retained. My ideal software would be a program to track income/expenses for both my LLC and SDIRA. Run P/L reports and also be able to segregate each note specifically. At this time I do not see a need for bill paying etc. And some of the other bells and whistles Please note at this time I do not plan on outsourcing it as I have some family assistance who can perform data entry etc.

[Adam Adams]

I use QuickBooks. Use the desktop, which will allow you to manage multiple LLC and your personal accounts. The online version will charge per entity. The desktop version is one price for countless entities.

To help you with keeping books for notes, Debbie Mullens, can help. She has been doing books for other note investors. She has been teaching me how to use QB with notes and she can teach remotely. Send me a message and I'll shoot you her contact info. I do not think she is on BP.