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Viewing 10 posts - 1 through 10 (of 10 total)
  • Profile photo of JosefJosef
    Participant
    @josef
    Join Date: 2012
    Post Count: 8

    Hi everyone,

    Does anyone know of any good programs, software or apps I can use that will monitor and help manage my income, expenditure, assets, liabilities, bills and cash flow etc?

    I am in the process of acquiring my 3rd IP and need some sort of program where I can punch in the numbers so that it tells me exactly where I am financially. I currently use an excel spreadsheet and manually input the data. I need something more sophisticated as my asset base grows.

    I have heard of PIA software however my understanding of this is that is only shows you how your properties are performing not an over all financial position.

    Any recommendations would be appreciated.

    Cheers.

    Profile photo of RyanJDRyanJD
    Member
    @ryanjd
    Join Date: 2011
    Post Count: 77

    I would upgrade your excel documents, I currently have an excel document i made myself which i updated bit my bit, it pretty much has every part of my life to do with money in it. Also makes it less complicated because I've added what I've needed.

    Income sheet – Salary, rent & misc cash

    Spending sheet – Bills, food, alcohol, health car, investment property etc

    Investment Sheet – Property details, rent paid/owed/total etc

    Tax Sheet – Costs for property including interest, insurance, repairs, improvement, water/council fees, court fee etc

    All of these are merged into a Summary Sheet – Tells me my Income & spending figures, averages and difference per month. Also property start date, YTD cost, income and difference,

    The equations are very simple when you know how to do them (I just googled) 

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Josef

    I am with Ryan and use Excel with a few personal modifications.

    I am now Excel expert so with 40 properties it is a matter of designing simple to use but accurate in it's report and for it works well. I am sure some of more IT related forumites will tell you there are the odd program doing the rounds but  i am quite happy.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Agree with the other guys – excel all the way.

    Just set up a sheet for each IP with expenses captured on one side and income captured on the other. The total expenses and income from each IP can then feed into a summary page that shows your total expenses and income.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of CootaCoota
    Participant
    @coota
    Join Date: 2012
    Post Count: 49

    Gents,

    Any way your Excel spreadsheets could be shared in this forum?

    Cheers

    Michael

    Profile photo of DerekDerek
    Member
    @derek
    Join Date: 2004
    Post Count: 3,544
    Josef wrote:

    I have heard of PIA software however my understanding of this is that is only shows you how your properties are performing not an over all financial position.

    Hi Josef,

    PIA is used for analysing cashflow of an individual property inclusive of tax deductions (where relevant). It is also possible to input some details related to depreciation of plant and equipment.

    It is also possible to project capital growth rates (based on your inputs).

    On top of this PIA can also do portfolio assessments in terms of cashflow (inc of tax deductions) and overall asset growth.

    PIA certainly is not a tool for monitoring overall cashflow.

    Excel is good.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    its best to set up your own excel spreadys because each person has taylored (esp Richard) their own spreadsheets to their own needs.

    Also a good way to learn about property and tax – and excel.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of JosefJosef
    Participant
    @josef
    Join Date: 2012
    Post Count: 8

    Thanks guys for your input in this. I really appreciate it. I will bite the bullet and get my non existent excel skills up to scratch :)

    THANKS AGAIN!

    Profile photo of RyanJDRyanJD
    Member
    @ryanjd
    Join Date: 2011
    Post Count: 77

    first figure out a layout without any calculations just the figures not do anything fancy just get it on the sheet. Then play around with it.

    Example TAX

    2012/13  Interest Insurance Repairs Improvements Cleaning Transport Water/Council Court Fee's Other

             

    July  $

    August  $

    September         

    October         

    November         

    December         

    January         

    February         

    March         

    April         

    May         

    June         

             

    Total: $1000 $1000 $1000 $1000

    Full total: $4000

    Total cell needs to have =SUM(C3:C14) but change the number and letter to what ever cell numbers yours are in

    Full total =SUM(C16:K16) adds totals from left to right

    Want to add individual cells: =SUM(C83,C78,C73,C68,C60,C52,C45,C39,C31,C24,C17,C8)

    I ended up changing layouts many many times are thing i have it perfect for my situation and easyness to read.

    Pull a figures from another sheet ='2012 Income'!H8

    2012 income is the name of the sheet and h8 is the cell

    Profile photo of mattstamattsta
    Participant
    @mattsta
    Join Date: 2011
    Post Count: 604

    Me too.. I also use Excel for my property calculations and tracking. I also tailored my own spreadsheets to my own style and I prefer it that way.  tried other programs before but they were too rigid!

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