Investor · Atlanta, GA · Member since 2014 · 41 posts · 20 votes
I wanted to gather some feedback regarding accountants in the Seattle area. I am in the process of moving back to the area, and I need to get my books in order. Does anyone have any suggestions or recommendations?
Investor · Panama City, FL · Member since 2015 · 378 posts · 183 votes
11y
I would strongly recommend you find someone local willing to sit down with you and get all your accounts, classes, and reports set up in quickbooks from the beginning. It is so much easier for your tax professional to set you up correctly from the start then to clean up. Also proper accounting will give you useful information in your business to make educated decisions. Make sure they specialize in real estate and preferably own investment property themselves. Hope this helps, good luck!
Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
11y
As for an accountant do not feel like you need to use someone local. Many of us accountants have clients worldwide. Payroll, bookkeeping, etc can mostly be done remotely.
Also check out the www.NAEA.org page in your search. It should help you find someone local. If someone comes to me, I'll send them your way.
If you need help in your search or want to verify something don't hesitate to ask.
For example: I have clients worldwide and things are just as easy as I e-mail them, talking on the phone. I even use Skype and TeamViewer to communicate with clients so I'd highly recommend looking for one of the best with great references that interviews well with you.
So look for someone you can connect with that works out for your situation.
Investor · Atlanta, GA · Member since 2014 · 41 posts · 20 votes
11y
Hey Steve, thanks for the response. I'm actually trying to learn Quickbooks while I get professional help setting up everything, so I figured someone nearby could more easily help me.
Investor · Panama City, FL · Member since 2015 · 378 posts · 183 votes
11y
I would strongly recommend you find someone local willing to sit down with you and get all your accounts, classes, and reports set up in quickbooks from the beginning. It is so much easier for your tax professional to set you up correctly from the start then to clean up. Also proper accounting will give you useful information in your business to make educated decisions. Make sure they specialize in real estate and preferably own investment property themselves. Hope this helps, good luck!
Real Estate Agent · Seattle, WA · Member since 2016 · 71 posts · 29 votes
10y
Hi Prag,
I'm looking for the exact same thing her in Seattle. Did you find a good accountant to help you with Quickbooks? I need to get set up correctly with a professional, and then run it myself. Thanks! Eva
Investor · Atlanta, GA · Member since 2014 · 41 posts · 20 votes
10y
Hi Eva,
I ended up going with Dr. QuickBooks. Keith really helped me get setup and from there I was able to at least enter my transactions. He should be the first hit you get on Google when you search for "Dr. QuickBooks".
I also ended up hiring an accounting firm in Colorado to help with my taxes. Good luck!
I am a new real estate investor that is about to purchase a property in the Denver market. This will be my first property and I plan to house hack. Would you recommend to run Quickbooks on your own accord? Or would you recommend to hire out an accounting firm like you did? Also, how is this current firm you hired out?
Investor · Atlanta, GA · Member since 2014 · 41 posts · 20 votes
5y
Hey @Jordan Copeland, I actually went the extreme route and learned accounting, tax, and bookkeeping on my own. If I had to do it all over again, I would not use Quickbooks Desktop for 1-4 properties. You can without question alter it so that it can work for simply owning and managing properties, but the vast majority of the tools and structures built-in are for a business that operates on revenues and vendor/labor costs, and not necessarily gross rents and property expenses. I know of a few that have some more customization built-in such as Xero (and a plethora of property management programs), but it really depends on how far you think you will go in this business, and how "hands on" you want to be in the accounting portion of it. If you plan to stay small scale, you can do a simple spreadsheet and give that to your accountant. If you plan to go big scale, then you will eventually outsource your bookkeeping and accounting to someone so you can focus on more deals.
If you or @Eva Croasdale are interested in a DIY route, Keith Gormezano (a.k.a. Dr. Quickbooks) helped me structure the program to my rental properties. He made housecalls pre-Covid, but I'm sure he can you virtually. Sorry for the late response Eva!