4. RECORD KEEPING
Tracking accounting data is not on top of anyone’s bucket list. Nevertheless, it must be done. Diligently and thoughtfully.
Accounting involves two key functions:
- Actual recording of financial transactions – building the “books”
- Meeting Record keeping and filing requirements and deadlines
Tax & Accounting for Real Estate 
12/07/2009 at 11:53 PM |
What is the easiest why to Keep things organized?
12/13/2009 at 12:43 AM |
There are two key steps to keeping items organized: it doesn’t matter what software you use, 1) TAKE THE TIME and 2) DONT USE CASH.
1) Use accounting software such as QuickBooks and diligently upload your bank statment online. Take time each month to categorize your transactions.
2) Ensure all transactions are either via debit card or check (No cash). Cash transactions are more tedious to track…you have to keep the receipt, and then enter the reciept in your accounting software.
This is fairly easy to do without any training. 🙂
12/09/2009 at 7:18 AM |
As you shown this program in the class yesterday, I believe that it has many advantages and it is easy to search for the money record in quick book program. Furthermore, I would like to know that does it is only benefit for me or my organization to use this program or it is also benefit to other? ( such as the bank and etc.)
04/10/2010 at 3:10 AM |
Would I have to do all the book keeping my self or could I meet with my CPA every so often to organize my books?
10/10/2011 at 3:22 PM |
To allow a business owner to save time and frustration they can hire a bookkeeper to maintain your quickbook files and then have that information forwarded to your CPA at tax time. Often times the bookkeeper and the CPA will work closely together, and it is usually less expensive to have a qualified bookkeeper to process the monthly updates and then pay the CPA for the annual tax preparation.