All aspects of bookkeeping are time consuming. There is no reason why you should invest your time in punching keys entering records and making piles of receipts and deposits in the hope that one day you'll organize them in a spreadsheet or accounting software. Recording transactions on time and accurately is key to for complying with government regulations, making educated business decisions, and having current reports at the stroke of a key.
I keep your property's books with double entry accounting, following GAAP ( Generally Accepted Accounting Principles). I take very seriously keeping up to date records for all my clients accounts. Some transactions are quickly registered manually, but most transactions are recorded in real time automatically to ensure up to date information displays on your portal.
Accounts Receivable (Rent Collection)
- Accounts receivable is a standard service I perform for all my rental investors. I track all your receivables and make this information available 24/7 to you and your tenants via portal.
- Your receivable records include the collection of rent, and restitution for events as damages, violations, breaches of lease among others.
- To know more about my Rent Collection Service click here.
Accounts Payable (Bill Payment)
Accounts payable is a service I offer for clients that want me to take care of processing their property bills. Depending on the amount of bills you'd like me to process you will choose a plan that best fits your property's spending habits. The cost of postage is included in your property's bill payment plan.
To see which plan is best for your bill payment needs click here.
Issue IRS 1099 Reports
- The IRS requires that everyone who made payments in excess of $600 for services to vendors or rental income to owners throughout the year to prepare form 1099.
- I make sure your property is complying with requirements such as this every step of the way. Failing to do so could result in large penalties for you and even disallowance deductions for expenses not reported as 1099.
You can download and print many financial reports from your portal. They are available in .pdf and excel formats.
Some of the reports include:
- Balance sheet
- Income statement
- Cash flow
- Property statement
- Trial balance
- Event history and many more.
You can also export all available property reports to text files (.csv) to use in your own spreadsheet or accounting software like QuickBooks, Turbo tax, and any software that can import text files.