Accounting Hacks I Use as a Real Estate Investor

Easily the best dollars you can spend. Accounting software. This is a question I get asked often by investors. When should I set up accounting software? I only have “X” amount of properties.?

My short answer is now!! So often I hear that people want to save money. I mean I get it. Cashflow is a pain point for most investors these days. BUT. It will cost you more in the long run, I guarantee it. The extra time, the extra stress of reconciling things, the additional bookkeeping fees, that weight over the top of your head.?

Despite it taking a few dollars away from your cashflow each month, it’s guaranteed to save you money in the long run. It may take away from your monthly cashflow each month, however, it will save you a lot of money when it comes time to submit your files to your bookkeeper at year end. It keeps everything organized!?

Time to say no to those endless loose receipts? I thought so. Snap your receipts on the go, send them to your bookkeeping software, and boom. You have turned an hours-long process into a 25 second daily action.?

PS: did you know you can set up a unique email address for your QuickBooks account? All you need to do next is forward your receipts. Additionally, you can snap receipts on the go with the quick and easy QBO app.?

Are you using QuickBooks online? Or what is your favourite accounting hack? Let me know in the comments below.?