All Forum Posts by: Micah Dickson

Have you looked at Xero?

You are owner and CEO. You need the information to make good business decisions. Would you expect a CEO of a Fortune 500 company to be cleaning the bathroom? No. Outsource your bookkeeping. 

We do bookkeeping and reporting for business owners but that's not just a plug for us but any bookkeeping service. Get someone who can give you the information so you can grow your business not your excel knowledge. 

When it comes to software, we use Xero for our clients because it's beautiful and easy to navigate and understand. 

@Chance Cooperthere are a lot of cloud applications that make running your business automated. The important thing is getting a good accounting software like Xero (or Quickbooks like @Mitch Dowlersuggested) and separate bank accounts for personal and business. Just make sure it is cloud based. Then there are systems you can use for invoicing and project management like PocketRent.

It really just depends on the type of business you want and what you want your operating rhythm to look like. But get your financial house in order first. 

@Sean Cole yes, I can double check though about the invoices. Xero does have an invoicing system as well. It just depends on what exactly you want.  

When it comes to the chart of accounts, it can take time to get it set up. That is why we offer the service. But I'm telling you, once you do that front end work, the system is powerful. Especially when you connect it to other add ons. I've worked for Fortune 500 companies that struggle to replicate what it can do. 

@Josh Calcanis there is a monthly fee for the program and it depends on the size of your organization. $9-$70/mo. They are currently doing 40% off until the February 15th. I can also get you set up with a free trial. Check them out. Like I said, if you have questions I can answer them. 

Full disclosure I am a certified Xero advisor so I am biased. But our firm chose Xero because we truly believe it the beat software for our clients. 

I recommend Xero for your financial tracking. With the add-ons you really can run your business with more accurate and up to date data. Best thing is, it is cloud accounting software so you can run your business from anywhere you have an internet connection. 

If you have any questions DM and I can help you figure out what exactly you may need. Thank.

@John T. how are you keeping your books and accounting? I have 10 years of experience in banking and know that lenders love reporting that shows exactly what is going on in your finances. Your tax documents are just part of the story.

As for bankers not giving a straight answer, there is a lot more than just ratios that go into the lending decision. It is the risk appetite of the bank at that time and other factors as well.

Hope this helps.

Hey @Robert Taylor

Here are a few options you can consider. They also should integrate into any good cloud accounting software you have as well:

ProWorkflow:

$10-$30/mo

Mobile Access

Worketc:

$78-$395/mo

Does CRM and Invoicing as well

Workflow Max

$10-$199/mo

CRM to Project Management solution

I hope this helps. I will see if I can get you more information later. 

Thanks

Hey guys,

Thanks for the warm welcome. @Sean Cole, we use Xero for our clients. I love it because it is user friendly and has so many add-ons that you really can customize your back end opperations for your business without the IT headaches and overhead

@Jered SturmI am currently in the Norwood area. I do want to begin getting into owning rental properties but right now I really am passionate about my business and helping investors run their businesses more fluidly. I will defintely reach out to pick your brain this coming week.

@Theo HicksI DMed you.

Thanks guys!

I specialize in bookkeeping and cloud back office systems for real estate investment companies. These systems help real estate companies get organized and saves investors time and hassle. I'm here to help any way I can.