With all the guru’s out there I thought it would be worth asking what software, if any, people use to track their invstments for tax purposes. I have been using a simple excel spreadsheet which works but does not go far enough. I currently have 5 investment properties which I need to keep records for and then have them culminate into one report for my accountant at the end of the Tax Year.
Any help would be greatly appreciated.
Aside from that the forums are very interesting.
I am located in a remote part of WA and find it difficult to get on the ground research of potential markets – as most would, I would love to find +ve but find myself buying in at pre-construction stage and then picking up on the equity. This can be fraught with danger but so far this has worked.
I will keep searching to find the ever decreasing +ive cashflow properties.[cowboy2].
Hi jag36
I run my investment properties on Posh software, it can be found in the back pages of the API magazine. It can produce a variety of reports, which will make your time at the end of the year less stressful. If you enter the data as it is accrued, it does not take up to much of your time.
I also have a simple but effective spreadsheet also, which your welcome to use if needed, just send us your email address if required.
Regards
Wayne
“What is the lap record, and which way do i go?”
Hi Jag,
You could try PIA which is available through Somersoft or we have several spreadsheets available online free that you can download that cater for up to 5 IP’s.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Have a look at http://www.excelaustralia.com.au (based in Perth as well) well worth watching the PowerPoint
“Money is a currency, like electricity and it requires momentum to make it Effective”
Online Positive Cashflow and Renovating CalculatorsHi. I use POSH as well, and am quite happy with it other than a few minor things. Use it to keep track of expenses/income, and then to me a P&L each year. Just last night I got around to making up a depreciation schedule in the program, which I did the hard way last year with a ‘home made; excell spreadsheet, and man is it a snack. …should have done it last year. Anyway, all the best.[strum]
Hi. I use POSH as well, and am quite happy with it other than a few minor things. Use it to keep track of expenses/income, and then to me a P&L each year. Just last night I got around to making up a depreciation schedule in the program, which I did the hard way last year with a ‘home made; excell spreadsheet, and man is it a snack. …should have done it last year. Anyway, all the best.[strum]
I use Rent Manager (by Cashflow Manager Pty Ltd) http://www.cashflow-manager.com/australia/products-pc-rent.asp
It produces reports that are fully compliant with ATO requirements.
“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
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