Your Chart of Accounts is the backbone of your bookkeeping architecture. Don’t fall into the trap of creating a “one-dimensional” COA. Prepare your business to scale with a 2-dimensional Chart of Accounts.
Download the Rehab Analyzer here: https://www.incomedigs.com/rehab-property-analyzer
Check out this super thorough excel tool for analyzing rehab properties! Nail your next flip and impress your investors!
Check out Stratafolio here!
Real-time, accurate data is essential to making pro-active decisions for your real estate investing business. If you're really looking to scale, QBO alone isn't enough! Stratafolio adds real-time financial analytics as well as Loan Mgmt, Operations Mgmt and Investor Mgmt...all in one easy-to-use platform.
In this video, I'm joined by Stratafolio Co-founder, Jeri Frank. Jeri demos her super powerful (and I must say, beautiful) Stratafolio platform to show us how we can have all our crucial investment data right at our fingertips.
I hope you enjoy as much as I did! I urge you to visit the Stratafolio site...you can schedule your very own, personal demo! Also, feel free to comment on any questions regarding the product. Jeri and I will be quick to respond!
QBO is invaluable when it comes to prepping for taxes. But what are those weird "Unapplied Cash Payments" all about? In this video, I shed some light on these elusive accounts to help you understand why they occur and how to deal with them.
Per your specific request, here is a super helpful tutorial on how to set up an Advanced Loan Amortization Schedule in Google Sheets (or excel). This lesson demonstrates how to account for additional principal payments throughout the loan. Play with the numbers to figure out your revised payment schedule and how much you can save over the course of the loan!
If you're in the Rental Property Management game, your likely charging your tenants late fees. After all, you get charged late fees on your bills/ mortgage payments....your tenants should carry that burden as well! With Quickbooks Online's new "Late Fees" feature, we can now set up late fees to automatically get added to past due invoices. Check out this video where I break down exactly how to set this up!
In direct response to an audience question (thanks Andy from TX!), here’s a step by step guide for setting up Quickbooks Online to track your rehabs. Learn how to set up your Chart of Accounts, utilize “Projects” and ultimately track your construction expenses!
We all love QBO to manage our rental business. The best part is getting paid! This video demonstrates how to properly account for these rental payments to keep your business organized and your cashflow humming!
It’s common to finance your rehab with a private or conventional construction loan. Learn how to track this loan and subsequent draw payments. PLUS - we start the conversation on the pros and cons of QBO budgets.
Quickbooks Online is an amazing tool for tracking the financials of your Property Management business. But QBO falls short in many other operational areas. Workflow automation software like Podio can help to fill in these gaps. This video demonstrates how to integrate Podio with QBO. As you can imagine, the possibilities are endless with an integration this powerful. Stay tuned for additional use cases as to how we can leverage the powerful functionality of many different Property Mgmt Software services!
The only training program of its kind that not only shows you exactly how to setup Quickbooks Online, but also how to transform QBO into a powerful force to help you Scale your Real Estate Business.
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