Need your opinions: Accounting Challenges?

Question

Hi All, I wanted to know from you what challenges are facing that you would like your accountant to solve?

I am a bookkeeper and a realtor (haven’t done much real estate lately), I would like to pick your brains and see if I can give tips and tricks and maybe write a blog for common challenges… fire away

Katelyn Barr · Answer

Hi Jimmy,

I am a smaller investor (I have 3 properties under me) and have been searching for some insight on bookkeeping to make my taxes easy.  I keep a separate bank account for each property and have attempted to use quikbooks but have not found that to be very user friendly.  I would love some tips on how to book keep effectively when you aren't big enough to hire a book keeper but want to keep your finances straight for the accountant come tax time.

Jimmy Farag · Answer

@Max Emory. Thank you for your feedback. It is awesome

Todd Lennig · Answer

@Katelyn Barr shoot me a dm with your questions on quickbooks and i will be happy to do a screen share and get you all squared away.  Quickbooks can be overwhelming when just starting out.

Daniel Hyman · Answer

@Katelyn Barr

It sounds like you could benefit from quickbooks coaching.

You might want to reach out to an accounting firm that can provide some coaching consultations (and be available for troubleshooting) to get you on your way.

Max Emory · Answer

Hi @Jimmy Farag, as a Bookkeeping Professional and Real Estate Investor myself the top 5 questions I get are:

1) How to find a real estate investing-specific CPA?

2) Where to start with bookkeeping for an investor who is just starting out?

3) What is the difference between a bookkeeper and CPA?

4) What software is the best for real estate investors (all under one subscription)?

5) How is a bookkeeper helpful to a business and why not just have a CPA?

I hope this helps!

Need your opinions: Accounting Challenges?

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