Portfolio Management Software ?

Discussion in 'Accounting & Tax' started by TadhgMor, 6th Aug, 2017.

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  1. TadhgMor

    TadhgMor Well-Known Member

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    Penrith NSW
    Hi all,

    Just getting my accounts together for my tax return and I can see that the paperwork and the use of Excel to manage and track my IP's is going to get unruly quickly.

    Just wondering what software, people use to look after their portfolio.

    There's been mention of My Property Tracker but not much else on the forums. Googling about tends to turn up software for property managment businesses rather that portfolio management.

    So.... who uses what ? :)

    thanks
    Tim
     
    TadhgMor, 6th Aug, 2017
    #1
  2. Ross Forrester

    Ross Forrester Well-Known Member

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    Real Estate Investar combined with Xero works a treat for those who know how Xero works.

    QBO can also work but takes a while to get it setup to work properly.

    Bit programs need somebody who is fluent in the software to get it singing properly. Otherwise they are a mess in the hands of people who do not understand what is going on.

    Stay away from Excel or a variation of Excel. If somebody has a "great program" that is a glorified version of Excel I would be concerned.
     
    Ross Forrester, 6th Aug, 2017
    #2
  3. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    I've always used excel

    Nice, simple, easy.

    Expenses on one side - income on the other.

    Most stuff is captured in PM statements too.

    Cheers

    Jamie
     
    Jamie Moore, 7th Aug, 2017
    #3
  4. Paul@PAS

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

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    Accounting software is fairly usless for property expenses and is exceptionally time consuming as automated processes rely ona dedicated bank account and even agents net expenses makes it problematic.

    Excel is a never fail option
     
    Paul@PAS, 7th Aug, 2017
    #4
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  5. Mike A

    Mike A Well-Known Member

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    Why stay away from excel ? For someone with one two or three properties it works and is easy.

    Ive seen people use software and all a total mess.

    I dont have an issue with excel at all. For property management i.e. true property management e.g lease renewals, expense management, etc it would be useless but the OP talked about something for tax returns.
     
    Mike A, 12th May, 2018
    #5
  6. hobartchic

    hobartchic Well-Known Member

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    In a past life, I used specialised accounting software worth 10k per month rental for a multi million business. I've used the classics like MYOB too.
    For smaller business enterprises though you can rely on Excel and good filing management. I've run a business without need for expensive or extensive accounting software. Excel for accounts is good stuff.
     
    hobartchic, 12th May, 2018
    #6