Category: Accounting
How To Collect Rent Early and Improve ROI
Posted on: March 02, 2012 by total
Can you imagine tenants consistently paying on time or possibly even early? Amazing concept, isn’t it.
5 Ways a Professional Property Manager Can Help Make More Money and Save More Money
Posted on: March 02, 2012 by total
Property Management Saves Time and Money; 5 Concrete Ways a Property Management Company Can Save Time and Money for an Owner
Insurance Claim Bookkeeping And Accounting For Real Estate
Posted on: May 23, 2011 by total
I recently responded to a post on a property management discussion forum, and thought it would be good to post the details of that discussion here.
Part 5.1 – Rent Charges
Posted on: April 27, 2011 by total
At the end of each blog post is a diagram with all of the accounts that were used. Each transaction is labeled, in the diagram, with a # that corresponds to the example #. It is a good idea to print this diagram out, so you can follow along visually.
Part 4 – Types of Accounts
Posted on: April 07, 2011 by total
The Different Types of Accounts Now that we understand how to increase and decrease different accounts, we can talk about the meaning of the different account types. This is where we actually start to understand accounting. All accounts fit into 5 overarching account types: assets, liabilities, equity, expenses, and Income. So, we know, from before, […]
Part 3 – Debits and Credits…
Posted on: April 03, 2011 by total
Seriously, what is a Debit and a Credit… I mean… Seriously? Everyone hates debits and credits because… well… they’re confusing, but we’ll go through it step-by-step here. Let’s start by clearing out the wrong ideas. Debits and Credits are not always positive and negative. The determining factor is the type of account that is being […]
Part 2 – Double-Entry Bookkeeping
Posted on: April 02, 2011 by total
What is Double-Entry Bookkeeping? Alright, Double-Entry Bookkeeping is the standard that everyone in the world uses for accounting. It dates back to around 1300ad, which is pointless information that I’m just putting in here for no reason.
Property Management Accounting – Part 1 of 6
Posted on: March 28, 2011 by total
Property Management Accounting Overview People always ask me accounting questions and I usually give a well thought out answer of, “How should I Know?… You should probably ask an accountant.” Well, the truth is that I do know accounting