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Updated over 8 years ago,

User Stats

4,902
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13,005
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Mike Dymski
Pro Member
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
13,005
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4,902
Posts

accounting system and deal sponsors/syndicators

Mike Dymski
Pro Member
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Posted

I am shopping for the right accounting software, have read all the posts on BP related to it and have PM'ed a few members.  I am using 3rd party management (they use AppFolio); so, my needs are pretty basic and do not include any management, invoicing or payroll functionality...just basic accounting and reporting.  My PM tells me and I have read on BP that AppFolio does not have robust reporting.  Below are questions regarding QB and Xero (and Wave):

Can they layer in your mortgage payment on the bottom of a P&L and calculate cash flow?

Can they calculate metrics such as CoC, IRR, cash flow per door, and ROE? Think metrics that would show up at the bottom of a trended P&L.

Reporting - Would like P&Ls and metrics by property and in the aggregate, rent rolls, balance sheet, cap ex log, annual tax reporting, budget to actual comparison (not a must have).

Do they allow budget input and budget to actual comparison by property and in the aggregate?

My question is directed at investors, bookkeepers and I also included deal sponsors and syndicators in the subject as I am curious on how you are tackling your regular reporting to investors.  I am not syndicating but I am likely looking for some of the same reporting functionality that you use.  I am curious if you get it directly out of your accounting system or if you export it to Excel and modify for investor reporting purposes.  The bookkeepers will slap me for this but since my needs are so limited, I could easily build this in Excel, use a transaction table and vlookups.

Would prefer the cloud but will use a desktop application if I have to.

Please save me from this research...ready to implement it and move on to investing.

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