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QuickBooks for Property Management: Managing New and Exiting Tenants

As landlords, you are all familiar with the revolving door of tenants, the struggle of filling vacancies, and getting an empty unit “rent ready”. Aside from that there is exiting tenants and performing the walkout with them; assessing the state of the unit before handling the security deposit. What does this have to do with […]

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Top 5 Reasons to Ditch the Spreadsheet

Today’s topic is the top 5 benefits of ditching the spreadsheet and move to a computerized accounting system. For content purposes, QuickBooks Desktop is the accounting software I am talking about. I want to make one thing very clear about this post…..it is specifically created for Landlords. There may be some overlap into other industries […]

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Landlord Reports: KPIs – What Are They and What Can They Tell Me?

Landlords, let’s talk reports and which of them you should analyze regularly. Obviously you are familiar with the P&L Statement and the Balance Sheet but how about your Tenant Turnover, Rent-Ready Costs, and Revenue Growth Reports? These reports are your KPI Reports, Key Performance Indicators. How many of you can raise your hands to say […]

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Small Business & Bookkeeping – Economic Injury Disaster Loan

The Coronavirus has really changed things in a DRASTIC way. Small businesses are forced to close as they are deemed nonessential and because of this, they are losing money, forced to lay off or fire loyal employees and are having difficulty paying their bills. This lack of control over their businesses causes high levels of […]

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3rd Party Integrations Accounting for Landlords Accounting for RE Investors Bookkeeping Practices

Small Business & Bookkeeping – Time Tracking

Let me start with an apology. I am sorry I didn’t post last week. I want to jump right into it because with all the talk about COVID-19 and employers moving to a virtual working environment, this post is NECESSARY. By now employees are being clocked via badges issued so that when they scan it […]

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3rd Party Integrations Bookkeeping Practices

Small Business and Bookkeeping – Expenses

Tracking your expenses sounds easy, right? We all know that isn’t the case. It can be quite time consuming especially if using spreadsheets. If you are a high volume transaction business, finding the time to input that data can prove to be quite difficult and let’s face it, that task can simply get put off […]

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3rd Party Integrations Accounting for Landlords Accounting for RE Investors Bookkeeping Practices

Small Business & Bookkeeping – HubDoc

For small businesses, automation is a MAJOR key to succeeding. When you have to do everything on your own, having some powerful tools in your tech stack (software and apps used to run your business) to alleviate a lot of the data entry can be LIFE CHANGING. One of the tools that should be in […]

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Accounting for Landlords Accounting for RE Investors Bookkeeping Practices

Small Business & Bookkeeping – Choosing Software

Switching from spreadsheets to accounting software is a big deal and you want to first and foremost ensure you are getting the software that fits your BUSINESS needs. With cloud accounting software becoming increasingly more popular, it gives you another option to consider when switching to a computerized accounting software. Let’s discuss the options available. […]

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Bookkeeping Practices

Bank Accounts – How Many Should I have and Why?

One of my favorite things about helping business owners, particularly landlords, is discussing systems and processes. There is just something about providing solutions for a client and seeing that look on their faces that makes me happy. One of the items on my list of implementable systems is Bank Accounts. For a rental property business, […]

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3rd Party Integrations Bookkeeping Practices

Recording & Reconciling 3rd Party Merchant Payments

Discrepancies occur often with bookkeeping and one of the most popular I have seen is during the reconciliation with 3rd party payments. There is usually a 1-3 day turnaround before funds paid by a 3rd party are deposited into a business’ checking account. For example: Company A performs Jobs for Companies 1,2,and 3, respectfully, on […]

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