I read recently there are about 2 million rental investment properties in Australia. I use managing agnets for mine and receive monthly rental statements. I'm always surprised at the amont of paper work and bookkeeping required to keep my accountant happy. He wont accept my shoe box filled with receipts and invoices any more.
I have to deal the cash accounting and process rates, insurance and remember lease and rent reviews and recently missed an insurance renewal.
Can anyone suggest a good software program to use that will help?
Cheers
A simple excel spreadsheet does the track for me.
No need to complicate things – I've just set up a tab for each property and track income/expenses once a month.
Takes 10 minutes each month.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Yep i use excel as well…
No need to go fancy – keep it nice and simple.Reagrds
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Hey jaime,
Is there a site you can download it from?Thanks Tony
Tony Fleming | Triumphant Property Group
http://www.triumphantpropertygroup.com.au
Email MeNSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury
You would need to pay for Microsoft Office.
But you can download "open office" for free – it's a similar spreadsheet so will do the trick as well.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I use excel spreadsheets as well. There are a few products available but I have always found that the spreadsheets that I create are more useful for me. I ran them by my accountant when I was creating them as well (it’s a good idea to do this, to make sure they include what you need) and he seems very happy with the lay-out.
Excel is easy to use and you can link sheets in so you know how each property is going, as well as your entire portfolio.
Good luck!
Cheers,
DenWhy not use Google Docs? It is free online and you can access your documents anywhere.
I think its docs.google.com
I use it all the time for spreadsheets, word documents etc.
It might be worth paying an accountant or finding someone online to build a spreadsheet for you. Tell them all your different types or income, expenses etc and get them to build it. Then do as the others have suggested and spend 10 minutes a week or month tracking everything.
Ryan McLean
FREE eBook on How To Buy Positive Cash Flow Properties In Oz
http://CashFlowInvestor.com.auRyan McLean | On Property
http://onproperty.com.au
Email MeMay I share?
I own a number of properties. I have found it completely trouble free.
I use Managing Agents. They pay all the bills for me. They provide an annual summary I give to the accountant.
They pay rates. Insurance etc.
I only have to work out the interest expenses each year, easily obtained from the loan statements.(i used to write them down once a month which was also pretty easy)
I have a file called " tax 2011," (or whatever the year is) and file in there anything that is not paid by the managing agent. (land tax for example) Once a year I spend a day putting it all together, and sending it to the accountant.
Personally, i dont think you need or want complicated excel or spreadsheets( even more work!)Its really easy! (in my view)
Never thought about having an excel spread sheet to manage the finances. Can anyone PM me a sample?
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