Who has outsourced their bookkeeping overseas?

Question

How has it gone? Do you have any recommendations?  I'm looking for a bookkeeper that can use QBO, integrate Appfolio, manage distributions, capex, etc.

Chris Seveney · Answer

we have and results have not been great. get what you pay for.

Drew Sygit · Answer

We have and after some trial & error, it's worked out well.

Rachel Mazzanti · Answer

You are looking for real estate experience that is like a Controller but the Temu budget, it's not going to be good.

Max Emory · Answer

@Jon Allen Jr, I've seen this go horribly wrong, and I've also seen it go really well. It all depends on how you source them (just like here in the U.S.).

It honestly works the best when the overseas person is managed by a U.S.-based person. You have to pay extra for this but I've rarely seen it work when an REI directly hires an overseas person for their bookkeeping. REI bookkeeping is too nuanced.

Anyway, you need to heavily vet them.

Ask them industry-specific questions.

Throw a bunch of REI lingo at them and see if they know what you are talking about.

Ask them how they decipher between CapEx and other immediately deductible expenses.

What do the deliverables look like?

What does communication look like?

What assurances do you have that they will do a good job?

What happens if they don't do a good job?

Just make sure they're vetted, and you have a very tight accountability system in place, like any other employee/contractor. Preferably, they come recommended through someone who you trust.

Hope that helps.

- Time Capital Bookkeeping (REI since 2019)

Jake Baker · Answer

@Jon Allen Jr

I’ve seen overseas bookkeeping work as long as the provider has real estate-specific experience. Be careful hiring a freelance bookkeeper overseas. REI accounting requires someone who understands property management workflows, including AppFolio integrations, capex vs repairs, security deposits, owner distributions, and unit-level tracking. Before hiring, ask for examples of their AppFolio-to-QBO reconciliations, how they separate capex from repairs in monthly reports, and how they handle communication and turnaround times.A few good questions to ask a prospective bookkeeper:• How many real estate or property management clients do you currently handle?• Can you show examples of AppFolio to QBO reconciliations you have managed?• How do you differentiate and document capex vs repairs?• What is your process for handling security deposits and trust accounting?• How quickly do you turn around monthly financials?

Who has outsourced their bookkeeping overseas?

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