Lee Serel
What is the best accounting system and method to keep track of which expenses/income goes to which property in the same company
title says it all. How do you track the your income / expenses for each individual property under your company?
Edita D.
efficient track of money in BAH: how many business accounts and which ones
Hey guys,
we are BAH (buy-and-hold) property owners that just separated our business account from personal.
To efficiently operate rentals, what business accounts would you recommend to have? Would you recommend:
-a s...
Arif Siddiqi
Distributions from business account
I have rental income that is being deposited to my personal bank account. After establishing legal entities, I have created a business bank account and planning to divert all my rental income to new business account ...
Bryant Troupe
BRRRR Investor Chart of Accounts for QuickBooks
We primarily BRRRR investor who purchased our first property last year. We are hoping to add 2 - 3 this year. I need to get all my financial data into QuickBooks and was wondering if anyone could offer advice on the...
Nathan Gesner
What is the worst "proof of income" you've received?
This is what a recent Applicant provided for proof of income. They've only earned $912 since February. What's the strangest source of income you've ever seen?
Did you know you can invest in real estate using funds you’ve probably forgotten about? For years, you’ve been socking away money into your IRA or 401(k) to ensure an abundant retirement. The problem? You’ve only been...
Ben Breuner
How to handle accounts/taxes on a joint ownership property?
My partner and I are unmarried and just purchased our first rental property. We live in California, but the property we purchased is in Kansas City. We're working with a property manager and I want to ensure we get ou...
Vanessa Penarrieta
Searching for Accounting Help
Hello,
I am in need of advice when it comes to rental property management accounting. What is the best software for upwards of 60 units? This includes property management expenses as well as rental income and expense...
Matthew Albritton
Separate Bank Accounts per Property?
Hi Everyone,Quick question. I heard it is a good idea to have separate bank accounts per property. Is this recommended? Are bank accommodating?Thanks!
Andrew Katz
What year do I count income for?
My tenant paid a portion of their rent for December on 12/31/24 (late). I use apartments.com, so the money didn't end up in my account until 1/6/25.Is this considered income for 2024 or 2025?