Investor · Atchison, KS · Member since 2015 · 46 posts · 6 votes
Am I really supposed to buy 16 versions of fresh books or quicken to get some system for taking care of my rentals? I feel like I'm reinventing the wheel with spreadsheets and having to have 16 files for each different llc and bank account. It is just starting to add up. I have 8 SFR's, laundromat, commercial, close on a 4 Plex this week, and looking at a few more places in the coming weeks. I need something better. Does anyone have a spreadsheet system they would share? Is there a program that will help manage like cozy but allow all the different bank accounts, EINs, Business names. The last thing I want is horrific accounting and tax issues because this process isn't working but then even cozy requires multiple steps of log-ins and passwords if I do the process through them. PLEASE HELP!
Use quickbooks desktop version, use the class function, make each class each series. Might do what you are wanting. You will need to keep track of capital separately doing it this way, and you technically should have separate back accounts for each one, but it might do it for you.
another option is if you can find a quickbooks desktop hosted, i.e. a virtual desktop, you Might be able to just have separate quickbooks for each, and if it is your desktop version, you for sure can.
Are you the only member? I would need to ponder that if so, since a SMLLC is disregarded for tax purposes, and it might not really matter.