It's time to gain clarity and make better financial decisions that will grow your wealth

If you’re like many investors, you know keeping clean and up-to-date financial records is key to making good financial decisions, minimizing your tax liability, and growing your wealth. 

Do you have the funds to put a down payment on the next property?
Are one or more of your properties underperforming?
How much tax will you owe?

All these questions can be answered when you have a good accounting system that is updated regularly. Without one, you’re taking educated guesses at best.

Many investors use spreadsheets and shoeboxes when just starting out...

Yuck!

It is tough to keep this system update-to-date and often leads you to spend dozens of hours playing catch up and trying to piece together the puzzle at the end of the year...

Or worse, dumping it on your CPAs desk to figure out, which often leads to delayed tax returns and increased preparation fees.

Even with a good accounting system in place, bookkeeping can be tedious, time-consuming, and repetitive. Staying on top of it on a regular basis is just a pain.

And with all of the different hats you wear as a real estate investor or business owner, who has time for that?

It needs to be delegated...But to who?

It all depends on the size of your business, but for many investors, it's hard to justify the cost of hiring an in-house bookkeeper.

And even when the cost can be justified, someone still has to supervise them. And if you’re trying to grow your portfolio or business, you have more important things to worry about.

That's why after helping over 600+ real estate investors and business owners, we’ve developed Outsourced Accounting services that help investors and business owners like yourself implement accounting systems that get you out of the accounting function so you can focus on growing your business and your wealth!

Phase 1: Accounting System Implementation

The first step in getting an efficient accounting solution in place is using a dedicated accounting system such as Quickbooks Online (QBO).

While property management solutions offer some accounting functionality, they leave much to be desired. 

And spreadsheets can only hold you over for so long. Eventually as your portfolio or business grows, you’ll need a dedicated accounting system to track financials efficiently.

That's where we come in...

The goal of an Accounting Setup engagement is to set-up a fully functional accounting system based on your business, whether you’re a landlord, fix and flipper, wholesaler, property manager, brokerage, syndicate, or fund we have you covered.

The setup includes:

• - Setting up a QuickBooks Online (QBO) account with the appropriate chart of accounts, class tracking, and opening balances based on your business
• - Reconciled bank accounts
• - Assets have been captured, including property basis in QBO
• - Easy to use receipt management system in QBO
• - Training on how to use your accounting system

Once your accounting system is in place, it will be ready to track the financial performance of your business on a regular basis. 

We also provide you with a deliverable that includes a current Balance Sheet, Profit and Loss Statement, and General Ledger as of the time your accounting system was set up.

Phase 2: Monthly Full-Cycle

Whether you already have an accounting system in place, or we set one up for you, someone eventually needs to handle the month-to-month bookkeeping functions to keep your financial records up-to-date.

If you don’t want to deal with the time-consuming and repetitive bookkeeping function, or don’t want to deal with the hassles of managing an in-house bookkeeper, we have a solution for you. 

Our real estate accounting team can take over the monthly bookkeeping function out of your hands so you can focus on the tasks that will grow your business. 

The monthly bookkeeping process includes:

• - Maintaining an accurate record of transactions
• - Capturing the purchase or sale of property through journal entries
• - Reconciling Bank account(s) to ensure accurate reporting
• - Generating financial reports including P/L, Balance Sheet, and General Ledger

On the 15th day following each month, you’ll be delivered a set of financial statements that will allow you to keep a pulse of the health of your business and make better financial and investment decisions.

Phase 3: Accounting Advisory

Once you have clean and up-to-date financial statements, the question is how can you use this data to make better financial and investment decisions?

That's where our Accounting Advisors come in…

Our Accounting Advisors are available to you on an as-needed basis to help you review and interpret your financial statements so you can better understand how to use them to make better decisions.

Accounting Advisory may also be perfect for you if you want to handle the day-to-day bookkeeping within your own team, but still have the support of an Accounting Advisor.

Advisory services are customizable and include but are not limited to:

• - Training a bookkeeper or team member on real estate accounting best practices
  - Reviewing your financial statements for accuracy and providing feedback and suggestions for improvement
  - Email support on accounting matters
  - Advisory support calls on accounting and financial matters, including financial statement analysis.