You will also be paying extra to a bookkeeper to keep track of all those different account.

You should keep the receipts and you can save them in a bookkeeping system like quickbooks or Xero.  

Hi Mark,ipayrentez.com has electronic check payments, online bookkeeping, free vacancy posting, automatic payment reminders, maintanance request and more.

,I am a full time bookkeeper and can vouch for both quickbooks desktop and quickbooks online to manage your rental.

We have a mixture of residential and commercial investments in the Eastern panhandle of West Virginia, and are looking for a good CPA/tax specialist/possible bookkeeper moving forward to make sure that we are fully compliant while taking full advantage of all of the deductions, reductions, and write-offs available.

The bookkeeping and accounting would still have to flow through the appropriate entities and your client should seek legal and tax advice from their professionals 

For property management, there are really good, emerging systems that can help you manage the day-to-day of service delivery, bookkeeping, along with project management  to keep track of 'to-do's' Hopefully this advice helps but feel free to ping directly to continue the chat!

I was wondering, what are some good methods for bookkeeping when it comes to rental properties?

Then it's up to your operating agreement and bookkeeping to figure out how capital accounts are affected. 

Needless to say my books were super basic and I dreaded the work every month so much - hiring a book keeper was one of the happiest days in my life.