Investment property management software

Discussion in 'Accounting & Tax' started by tgan, 2nd Aug, 2016.

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  1. tgan

    tgan Active Member

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    4th Aug, 2015
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    melbourne
    Hi everyone!
    Can people please tell me how do you keep track and manage the financials regarding your properties.
    I currently use and excel spreadsheet that i managed to put together, but now that I am on to 5 investments trying to track down the figures from bank statements and end of yr statements is starting to become time consuming and bordering on a nightmare!
    Is there software out there that keeps track and spits out info/reports etc and makes managing the financials on each property more efficient than what i seem to be doing now.
    Thanks!!
    Tgan
     
    Last edited by a moderator: 2nd Aug, 2016
    tgan, 2nd Aug, 2016
    #1
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    Doesn't the end of year report from your pm do that?

    Alternatively have a look at xero. It has some property addons.
     
    D.T., 2nd Aug, 2016
    #2
  3. Foxdan

    Foxdan Well-Known Member

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    I don't think xero has property add ons anymore but I have set zero up to track all my expenses and property related income so I can itemize it for the accountant with a few clicks at end of financial year.
    It takes a bit of work to set up but well worth the lack of headaches at tax time. Also great to be able to track all repairs / maintenance for each year.
     
    Foxdan, 3rd Aug, 2016
    #3
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  4. Simon Hampel

    Simon Hampel Founder Staff Member

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    Yup, I manage my trust books using Saasu ... it's just bookkeeping software and not property specific, but I use tags to identify income and expenses for each property and my accountant logs in and generates the reports they need at tax time.
     
    Simon Hampel, 3rd Aug, 2016
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  5. Scott No Mates

    Scott No Mates Well-Known Member

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    Have a look at something like rentmaster.co.nz for a small user. Pretty simple with a long free trial and no ongoing costs.
     
    Scott No Mates, 3rd Aug, 2016
    #5
  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Paul@PAS, 3rd Aug, 2016
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  7. tgan

    tgan Active Member

    Joined:
    4th Aug, 2015
    Posts:
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    Location:
    melbourne

    Hi DT,

    Yes, my managers do provide me with end of year statements, but i like to load up all the info so that i have an electronic version of my income/expenses etc.

    I will look in to xero.

    Thanks! :)
     
    tgan, 3rd Aug, 2016
    #7