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| *Ostroff, Fair and Company>>>Renting & Real Estate |
Do you own rental properties? What programs do you use to manage these proprties and keep track of expenses? |
Do you own rental properties? What programs do you use to manage these proprties and keep track of expenses? I use Quickbooks Pro... It can break down income/expense for each property, and even each apartment. It keeps track of my income, bills, security deposits, and even tenant contact information. Keep a log book of your own, theres no specific way you have to do it. You can just use a spreadsheet program like excel. Colums would be months, rows would be expense/income categories. You could put each property/unit on a separate tab. Each year in a separate spreadsheet. Can also do the same thing on accounting columnar paper-available at Office supply stores I used to own two (now one), and I used Quicken to keep track of the checkbooks. Then it would print a yearly report I could take to my accountants who had the depreciation schedules and know more about taxes and what can be deducted than me. |
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