What spreadsheet layout do you use to keep track of expenses/income.
I currently have 3 rental properties and have had more expenses this year (furnace, A/C, tentant turnover, refrigerator etc). I want to stay organized to track my income vs expenses to make it easy come tax time. I currently save and take pictures of receipts to upload and use excel.
Does anyone have examples or suggestions for keeping organized.
Thanks in advance for the info.
Check out www.Stessa.com
Their website and phone app are designed for rental real estate investors. The software links to your bank account if you have online banking and separate accounts for your real estate investments.
The best part is that it's free.
I recommend it to all of my clients.
There are some good ones online.
But with 3 rentals and hopefully a growing portfolio, I recommend you begin to explore other solutions that can automate some of the bookkeeping and record keeping for you - such as QuickBooks.
I keep it simple.
Repairs (tax deduction this year stuff)
Depreciation items (tax deduction over X year items).
Of course there’s other columns such as the unit number and date and a few other random items. Sadly this is only as complicated as you make it. I have six rentals just FYI
I really like this one: https://timesavingtemplates.com/product/landlord-rental-income-expenses-spreadsheet/ . I also use stessa.com to save all documents, invoices, receipts, etc. But for the accounting, I like that spreadsheet template better, personally.