Real estate bookkeeping best practice

Significantly enhance the profitability of your real estate investment portfolio by using quality software and real estate bookkeeping best practices.

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Simplify Your Real Estate Bookkeeping

When it comes to maintaining your real estate bookkeeping it can be tempting to leave it to the last minute. Nobody likes sitting down and spending hours going through receipts and bank statements. However, leaving it to the end of the year can result in missed deductions and overpaid taxes and can cost you thousands of dollars.

Thankfully, by following accounting best practices when doing your real estate bookkeeping will enable you to maintain accurate books throughout the year so that you stay on top of your finances and maximize the profitability of your portfolio.

Episode 1: How to Succeed in Real Estate in any Economic Market with Sharon Lechter & Brandon hall (Part 1)

In this episode we talk about everything from how your upbringing can set your money mindset and the role mistakes play in learning to succeed to the important numbers you need to be paying attention to.

Sharon Lechter

Real Estate Investor

"You have to be aware of what’s going on. What I see a lot of people doing in real estate is they buy it, hiring a management company, and then they forget about it. They take their finger off the pulse. The result is almost always a drop in profits."

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Real estate bookkeeping best practices

A combination of rental property accounting best practices will help you save time, report an accurate tax return, maximize deductions, and increase monthly cash flow.

Digitize receipts - no more lost and faded receipts.

Keep your personal and business accounts separate - for easy reconciliation.

Collect rent online - automate rent collection and income tracking and never experience late rent again.

Use industry-specific software - Property management and accounting software like Landlord Studio will save you hours of admin and hundreds of dollars each year.

Update your books regularly - Get greater financial insights and make tax time easier by regularly updating your accounts.

Ready to get started with our simple accounting software?