How Best To Manage Bookwork?

We rent out our old place.
I keep a spreadsheet and post every rent and other receipts in it. It shows me totals paid and owed to date and provides a handy check of what the situation is and should be.

Then I post out receipts every week even though I don't need to because they pay by direct deposit.

And I keep on the computer a copy of each of those receipts.

So this works okay. But it is a tad cumbersome. Home grown system. Just crossed my mind to perhaps come here and ask if there's any advice from this community on this. Best ways folks have found to handle all this?

 

Monthly & annual statements from the property manager.

 

Get a property manager.

 

You self manage and you have answered your own question.

If the money is paid directly into your account you don't need to issue or retain receipts as this is recorded in the bank transfer.

At the EOFY, I simply export the transactions from the relevant bank account as a csv and paste them into the excel file for each property.

Streamline your systems , don't make them harder than they need to be.