All Forum Posts by: Simon W.

 Although the AppFolio is great, PM's only focus on property accounting. I think you are really asking about the corporate level accounting. 

A portfolio of 9 SF and a 5-plex shouldn't be too much if all you need is someone to allocate. I do this for my clients, granted I have almost 20 years of RE Accounting and at least 13 years was working in PM. Only you truly know if it is worth it.

During spring and summer time I have to mow my lawn and that takes at least 3 hours every weekend. I finally made the decision to invest in a lawn mowing robot and I was able to use my 3 extra weekend hours to actually focus on my businesses or do other things. 

It just needs to make sense for you.

Just use QB for personal as well. You just need to categorize it with classes or business/location

@Dan Goeckel - I am both ProAdvisor for QBO and Xero so I have clients on both platforms and other PM platforms as well.

Although Xero is very similar in function and much cost effective. They have "Classes/Properties" which is great for the price you are paying. One thing is it is a hit or miss with the bank account sync. Some banks they take and some they don't.

To add to Markus, no one can give you a flat rate without actually reviewing some stuff. Every client has different wants and needs. If you have a few things to do, maybe it will cost $300 for roughly 1-2 hours of work. If you have a lot more things going on and need this person do record acquisition, dispositions, closing on loans and refi, well it might cost $1000-$3000.

It depends. STR is very time consuming because I have a client that has multiple properties in different States and is in the STR business. It all depends what is needed.

Seems like you just totally ignore my post. I've only been in real estate accounting for 20 years and spent a good 14 years using Yardi, but what do I know. 

Good luck talking to the non-accountants about accounting.

You won't be really able to find a tutor.

I consider myself a Yardi expert focused on accounting. I've trained people at my jobs when I was a senior accountant to controller.

I've used Yardi Enterprise (old desktop client software)

Yardi Voyager 6s & 7s

Yardi Genesis2

Reason why I say you won't be able to find a tutor is because no one is going to spend $15K a year to use as a training platform to mentor and tutor people. At $15K a year, that's just bare minimum without any of the other modules that Yardi offers. I can probably teach it, but I won't be spending that kind of money for the platform and I doubt people who wants to learn are willing to pay for the platform and tutoring fees. 

I hate to say this, but if you want to get a job with Yardi as the main software, you will need to start at the entry-level accounting. Get a A/R & A/P jobs and work your way up. 

With the limited access in Yardi, you won't be able to adjust account trees and create multiple customized financial statements. 

there really isn't any way to learn it besides getting a job. Mostly NYC real estate companies uses Yardi Voyager and not the Yardi Breeze that most people here in BP uses.

Even if you get a job that uses Yardi, you will have limited access on what you can and cannot do just because the role you are in unless you are a Controller/CFO.

you should focus on getting a real estate CPA.

As for the bookkeeping - make sure you have someone that focuses on real estate so at least that person can allocate the differences and not make a total mess for the CPA at year-end.

 I second everything Michael said. QB isn't quick and easy. 

I wouldn't stress so much about what Tax Accountants use. All they really need is a Balance Sheet & Income Statement. If they have any questions, the bookkeeper should be able to help out.

I wouldn't go with Emp. I was the CFO there.