Updated 1 day ago on . Most recent reply
Any bookkeeper recommendations for properties in Maryland?
I'm looking for bookkeeping for about ~20 properties. 95% are LTR. Most have mortgages. We need help managing statements from mortgages, hoas, and taxes. We have a backlog of about ~1000 transactions that need to be classified according to the statements. Are there software tools to help with this or a bookkeeper that's recommended?
Most Popular Reply
Hey @Warren Y., we use QuickBooks Online (QBO) exclusively for our bookkeeping clients, and I use it for my personal portfolio as well. It's great for managing all bookkeeping tasks and producing usable financials at the entity-level and property-level (door-level as well).
100% of our clients are REIs, and 100% of them are on QBO.
The only kicker is QBO is not setup for REI so I recommend getting an REI-savvy bookkeeper to help set it up and manage it.
1000 transactions is actually a smaller clean-up than we're used to seeing with 20+ properties so don't feel too bad about that.
I hope this helps. I'm happy to answer questions.
- Time Capital Bookkeeping (REI since 2019)