 Bookkeeping (by plenty [MO]) May 18, 2022 7:37 PM
 Bookkeeping (by DnB [MA]) May 18, 2022 8:15 PM
Bookkeeping (by plenty [MO]) May 18, 2022 8:26 PM
Bookkeeping (by Dee Ann [WI]) May 18, 2022 8:40 PM
Bookkeeping (by 6x6 [TN]) May 18, 2022 8:56 PM
Bookkeeping (by Still Learning [NH]) May 18, 2022 9:38 PM
Bookkeeping (by Sisco [MO]) May 18, 2022 10:34 PM
Bookkeeping (by Otis [IL]) May 18, 2022 11:05 PM
Bookkeeping (by Rick [IN]) May 19, 2022 6:56 AM
Bookkeeping (by plenty [MO]) May 19, 2022 7:58 AM
Bookkeeping (by Roy [AL]) May 19, 2022 8:04 AM
Bookkeeping (by Ray-N-Pa [PA]) May 19, 2022 8:26 AM
Bookkeeping (by Taylor [TX]) May 19, 2022 8:57 AM
Bookkeeping (by plenty [MO]) May 19, 2022 9:04 AM
Bookkeeping (by DJ [VA]) May 19, 2022 9:14 AM
Bookkeeping (by Plenty [MO]) May 19, 2022 9:19 AM
Bookkeeping (by BillW [NJ]) May 19, 2022 11:00 AM
Bookkeeping (by Allym [NJ]) May 19, 2022 11:29 AM
Bookkeeping (by Busy [WI]) May 19, 2022 11:37 AM
Bookkeeping (by myob [GA]) May 19, 2022 12:38 PM
Bookkeeping (by myob [GA]) May 19, 2022 1:20 PM
Bookkeeping (by Phil [OR]) May 19, 2022 2:48 PM
Bookkeeping (by tryan [MA]) May 19, 2022 4:26 PM
Bookkeeping (by Barb [MO]) May 21, 2022 12:36 PM
Bookkeeping (by Lucy [IN]) May 21, 2022 9:57 PM
Bookkeeping (by BRAD 20,000 [IN]) May 21, 2022 11:41 PM
Bookkeeping (by Lucy [IN]) May 22, 2022 12:08 PM
Bookkeeping (by Nicole [PA]) May 22, 2022 3:45 PM
Bookkeeping (by GKARL [PA]) May 24, 2022 5:53 AM
Bookkeeping (by plenty [MO]) Posted on: May 18, 2022 7:37 PM
Message:
I quit. Quickbooks has done me in. After 10 years of data entry, What the mess up mess I have created with just a few clicks. I need to use something simpler, perhaps excel? What do you suggest? I only enter data for rents and expenses for the tax man. Don't pay any bills thru the program. Just rent and expenses. What are you using? --172.58.xx.xxx |
Bookkeeping (by DnB [MA]) Posted on: May 18, 2022 8:15 PM
Message:
Hire a bookeeper.
Your time spent on expending your business is worth so much more than wasting time on meanial tasks. --209.6.xxx.xx |
Bookkeeping (by plenty [MO]) Posted on: May 18, 2022 8:26 PM
Message:
Yeap. That was my first reaction. And I can do that, there is one close by my house. --172.58.xx.xxx |
Bookkeeping (by Dee Ann [WI]) Posted on: May 18, 2022 8:40 PM
Message:
Excel is flexible. I like it because you can customize it to your needs.
On Excel I was able to set up our records to somewhat mirror the Federal tax forms. The program will even fill in Schedule E throughout the year, so I know where I'm at with income and expenses for each property.
Then our tax man does the rest!
--75.11.xx.xx |
Bookkeeping (by 6x6 [TN]) Posted on: May 18, 2022 8:56 PM
Message:
You are starting to sound like me, I am supposed to learn to be more like you.
You are a very smart lady and so I know you have this.
Can you hit the undo button?
Do you have a back-up saved?
Lunch time?
--73.120.xx.xxx |
Bookkeeping (by Still Learning [NH]) Posted on: May 18, 2022 9:38 PM
Message:
6x6 has the best answer… lunch:) --75.67.xxx.xxx |
Bookkeeping (by Sisco [MO]) Posted on: May 18, 2022 10:34 PM
Message:
Plenty, the primary purpose of bookkeeping and accounting is not for the benefit of the irs and department of revenue.
You need to get your chart of accounts set up right, I believe that John Hyre will sell you his chart. After you have settled on your chart of accounts, every check and evert deposit transaction will be associated with one of the accounts.
There are lots of good tutorials on YouTube to coach you up on qb. But if you want to use a ledger book, you will need your chart of accounts firstly.
--149.76.xxx.xxx |
Bookkeeping (by Otis [IL]) Posted on: May 18, 2022 11:05 PM
Message:
Sign up for ClearNow and use their expense tracking system. I tried several property management software programs Rentec Direct and Buildium. They were all made for the big boy property managers. I had been using Excel before this and wanted something just a bit more refined yet not as detailed as the aforementioned property management softwares. ClearNow was the exact thing I was looking for. --24.245.xx.xxx |
Bookkeeping (by Rick [IN]) Posted on: May 19, 2022 6:56 AM
Message:
Paper&pen, then mail to the C.P.A. Cheap, easy, and correct. --75.107.xxx.xx |
Bookkeeping (by plenty [MO]) Posted on: May 19, 2022 7:58 AM
Message:
Thanks all. Disco those are all set up. Been a QB user for , gosh 20 years. Using 2017 is my last software purchase for QB version. I don't use most of the features. I was doin simple data entry when all when burrr-zert. And we are traveling so I don't have some office resources with me. Anyways it's really messed up now as the more I tried (after reading and watching YouTube) the worst the information became. The backup no help either. So until I get back home I can't do the accounting. Was considering a different software that I could download from here and start by 2022 off clean. Really think excel could work for me and set up as mentioned above. I have helped several on this sight set up their QB and taken classes and been a long time user so this experience is really rattled me. So frustrating! Can't hardly do any thing any more without being hooked up on the internet with big brother watching, including the chip in your car, the phones, even my accounting. We are about to loose this country in one generation. It's bigger than we know. That's how far down the rabbit hole I went after hours of trying to correct a simple QB data entry. I know what happened,I know how to fix it yet all that happened was it got worst. So I am not even looking at it today. So I will enjoy my stay away from QB. And yes, planning lunch! --172.58.xx.xxx |
Bookkeeping (by Roy [AL]) Posted on: May 19, 2022 8:04 AM
Message:
I still use Quicken Rental Property software 2.0 which I think was first introduced in 2006. I have to keep an old XP computer handy to use it since it will not load anything higher than XP. QRP 2.0 is the easiest rental income /expense ledger software that I have ever used. I have tried the more modern (bloated) versions of Quicken / Quickbooks and had the same issues you are having. --71.207.xxx.x |
Bookkeeping (by Ray-N-Pa [PA]) Posted on: May 19, 2022 8:26 AM
Message:
I use Mike Butler's QB system that tends to be EVEN Landlord proof after you get it set up.
Doesn't make data entry any more fun, but it does remove items that don't apply to LLs while converting business talk into Landlord language.
Highly recommend it.....he will be speaking at the convention TOO --24.101.xxx.xxx |
Bookkeeping (by Taylor [TX]) Posted on: May 19, 2022 8:57 AM
Message:
Hey Plenty - are you going to the landlord convention? I will have my laptop, I can share my excel workbook when I see you. It's simple, and mirrors my CPA's annual form that I have to fill out, which mirrors Schedule E. One worksheet per property. I have a minimal number of roll up sheets that grab certain numbers from the individual property sheets. It's not fancy, but it lets me see the data, the repairs, the annual...well, everything.
--107.204.x.xxx |
Bookkeeping (by plenty [MO]) Posted on: May 19, 2022 9:04 AM
Message:
Taylor. Yes. Will be there! And yes I would very much appreciate the assistance. Thanks for the opportunity it may just be exactly what I'm in need of. And I'll buy ya lunch! --172.58.xx.xxx |
Bookkeeping (by DJ [VA]) Posted on: May 19, 2022 9:14 AM
Message:
Hey Plenty and Taylor,
May I join this conversation in St L? I'm way behind everybody in these skills and would like to absorb whatever I can.
Would be nice just to visit, too : ) --68.229.xxx.xxx |
Bookkeeping (by Plenty [MO]) Posted on: May 19, 2022 9:19 AM
Message:
DJ. I'm all about networking! Ok with me! --172.58.xx.xxx |
Bookkeeping (by BillW [NJ]) Posted on: May 19, 2022 11:00 AM
Message:
"rents and expenses for the tax man"
If you use an automated rent collection system like ClearNow, then the totals for rents are given to you.
For the expenses, check out the post: "Rent/expense simplify". I think the key is to record the property and IRS expense category at the time of paying for a product or service. After that it's just totaling up the numbers.
Seems an excel spreadsheet is the way to go, especially if there's an easy way to download the cost, property and category from the accounts (credit card, checking account, Home depot, lowes etc.) to the spreadsheet. I haven't found a way to do that yet. --74.102.xx.xx |
Bookkeeping (by Allym [NJ]) Posted on: May 19, 2022 11:29 AM
Message:
I have a big paper ledger from Staples. Only three properties. Each month has a column heading across top. Column at left is expense category. I post in June and get a half year total. Then again in December and add it up. CPA firm sends me their work sheet and I fill it in January. --108.24.xx.xx |
Bookkeeping (by Busy [WI]) Posted on: May 19, 2022 11:37 AM
Message:
Small time, and old school, but still wanted to add: as those of you who have larger operations grow, be sure to think about not just what the IRS. wants to know. Sisco is spot on, make sure you are thinking about information you'll want to know. Even if a software program doesn't just spew out that information, think about ways to measure your business. (Is there a lunch date counter in there? Might be one measure of success! And, a good one. Cruises taken is another. Dogs petted for one or two of us ;-) )
Roy, that is one of the best systems you can have. My kid is involved in highly technical stuff, and top secret security is of utmost importance. He says the stand alone old-school systems are the only way to be rock solid secure. Both from data theft, and from process braek-down. Solid and stable.
And for those who do use cloud based systems, having a occasional printout, mebbe not a bad idea. --70.92.xxx.xxx |
Bookkeeping (by myob [GA]) Posted on: May 19, 2022 12:38 PM
Message:
Quicken for rentals. QuickBooks for pay. --99.103.xxx.xxx |
Bookkeeping (by myob [GA]) Posted on: May 19, 2022 1:20 PM
Message:
would also mention: THROW the books away that come with the program and buy a QUICKEN BOOK on line. The one we used for setting ours up was QUICKEN 5. You don't need the whole book just the section on RENTALS if that's what the primary reason for Quicken is in your daily life.
When you set it up run it for 5 or 6 months as a shadow to what your doing now. When you get comfortable and all your category's are right-- you'll be ready to switch.
--99.103.xxx.xxx |
Bookkeeping (by Phil [OR]) Posted on: May 19, 2022 2:48 PM
Message:
I use "Rent Manager" from London Computer based out of Ohio. Super easy to use, set up specifically for Rental. Best customer service I have ever had. --97.115.xxx.xx |
Bookkeeping (by tryan [MA]) Posted on: May 19, 2022 4:26 PM
Message:
Another vote for Quicken ... I go all the way back to MS Money as far as paying bills online. Bank statements are downloaded into the SW .... little "mop up" to catagorize the expenses and income. Taxes are easy-peasy. --206.84.xx.xxx |
Bookkeeping (by Barb [MO]) Posted on: May 21, 2022 12:36 PM
Message:
I hired a CPA a couple of years ago and she convinced me to start using QuickBooks Online last year. I was all in Excel before that.
She set it all up for me, and will help when I get stuck.
What I LOVE is being able to invoice my travel nurses, and anyone else who isn’t set up yet on Clearnow. --149.76.xxx.xx |
Bookkeeping (by Lucy [IN]) Posted on: May 21, 2022 9:57 PM
Message:
Just in case you decide to start your QB file over. Do not use the import (accounts,vendors) from your current set of books. It's likely an account or a vendor file is corrupt and may be what is causing you problems. My bank account file (I finally figured out was what was corrupt). Setting up a New bank Account within my books and just transferring the funds got me back with a working Account/set of books. I like QB except when I don't lol --64.184.xx.xx |
Bookkeeping (by BRAD 20,000 [IN]) Posted on: May 21, 2022 11:41 PM
Message:
plenty,
I still use Quicken 98. Simple simple simple. On a $100 used laptop. Needs old Windows.
Indo not like Excel. Too easy to accidentally change a number. It always asks "Want to save the changes?" even when I did not make a change...or did I??
Best advice: if you don't like doing this hire a bookkeeper to come to you office a few hours a week. Or deliver an envelope with the bills to her office.
BRAD --174.202.xxx.xx |
Bookkeeping (by Lucy [IN]) Posted on: May 22, 2022 12:08 PM
Message:
The worse part of using an old program with an old machine is you probably can't print anything. How do you print things to take to your accountant for tax prep? --64.184.xx.xx |
Bookkeeping (by Nicole [PA]) Posted on: May 22, 2022 3:45 PM
Message:
no surprise here - I use a yellow pad and pen. Tried quick books (or maybe quicken) years ago and by the time I was finished tabbing, scrolling, typing, saving, etc., I could have been back to the couch in half the time. My girls did my bookkeeping for me when they were in middle/high school and they could easily do this for me and I could see what they were doing without wondering if they got it right.
I total mine monthly and those monthly totals get resubtotaled probably around September or October and then again at some point in January for the prior year.
If I were a big business, it would be different. As it is, all receipts go in a folder every week and I spend much less than an hour (especially since I no longer have stacks of little Lowes and HD receipts because I don't do much physical work myself any longer) ciphering. --98.237.xxx.xx |
Bookkeeping (by GKARL [PA]) Posted on: May 24, 2022 5:53 AM
Message:
I use QuickBooks on line. I separate properties using its class feature. Generally, I disburse money via payment made on websites for things like utilities or via bill payment via my banks. All of this activity is then downloaded into QBO and I use the rules feature to categorize the expense by type and by property. I also use QuickBooks to bill and collect rents. If set up properly, QBO is a real time saver and can put bookkeeping on auto pilot. --209.122.xx.xxx |
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