All Forum Posts by: Todd Lennig

@Allicyn Aubut i think you would need to open a new account for that EIN because it is a seperate business.  Thats what I did for both my wife's businesses.  Interested in hearing what support has to say.  I have a great rep at the company if you want an actual person please let me know an will pass on contact info.

@Sunny Singh I would also be happy in talking with you about what we can do for you and if we are a good fit.

@Charlie Massey,  I run a bookkeeping firm and would be happy to talk with you about bookkeeping, what to look for when hiring, how to diy your own books.  Feel free to dm me and we can set up a time to chat.

@Brian Tome

I run a bookkeeping firm that niches in real estate and would be happy to talk with you on how I work with my clients.

@John Steffen no problem.  hope you enjoy the read as much as i did.  check out his down loads off his website. they were pretty cool and gets rid of a lot of work to set up those spread sheets.

@John Steffen so very true on the Profit First.  I am close to finishing profit first for real estate investing. It will equally blow your mind.  

@Gregory R Ley. None of my bookkeeping clients have a bank account for each property.  How they track the income and expenses for each property is with quickbooks online at the plus level subscription.  The feature you are looking for is the class feature because you can use substitute class for property and then run P&Ls for each property.  If you are interested in having an account for each property Relay bank can handle that with no fees and no minimum balance.  I use it for my business and love it.  

If you have any questions about setting up quickbooks with the class feature please reach out happy to jump on a zoom or google meet and show walk you through those steps.  That offer is for anyone out there.  

I also only send my bookkeeping clients an email once a month.  Everyday seems like a lot.  If you use the receipt feature on qbo and put the address on it that should help.  It would help me.  I also have a client that has a google sheet to all their flips so that they put all transactions in there, so I can access it and categorize correctly.  

@Ryan M.. I have used wave off and on for the last five years.  It can be a great "starter" accounting program.  If you don't have much going on it can work for a while.  It would be difficult to track income and expenses to specific properties for buy and holds.  But for the most part it would work for flips.  If you have specific questions feel free to shoot me a dm and I would be happy to answer those.

@Linda Miller,

Where at in the Detroit area?  I grew up in Northville.  Was recently back there after not being there for 10 years.  Had to use my gps to get around, the area is growing like crazy.  

Happy to answer any of your bookkeeping questions.