Services
If you’re a real estate investor, bookkeeping might be that one task that keeps getting pushed to the bottom of your to-do list because:
- You don’t have the time – you’re too busy analyzing new deals, managing tenants, or overseeing rehab projects.
- You don’t know how to do it correctly – recording security deposits, loans, and purchase of properties might be complicated for you.
- You simply don’t enjoy accounting – you rather spend time growing your portfolio.
That’s where we come in.
You deserve a bookkeeping professional who’s not only responsive but also understands the real estate industry. Here’s how we help real estate investors like you:
Monthly Bookkeeping
- Custom Chart of Accounts: We start by setting up and optimizing a customized list of revenue, expense, asset, liability, and equity accounts in QuickBooks Online tailored to your real estate investment portfolio.
- Transaction Categorization: Once the accounts are set up, we handle every transaction so you don’t have to worry about incorrectly recording property purchases, missing deductions for repairs or utility costs, or losing track of tenant deposits.
- Account Reconciliations: We reconcile all accounts in your business and verify that every transaction recorded on QuickBooks Online is accurate, correct, and assigned to their corresponding property.
- Financial Statement Preparation: By the 15th of each month, we deliver your Profit and Loss Statement and Balance Sheet, giving you a clear picture of your profitability and reports that are readily available for tax season.
- Year-End Collaboration with CPA: We work directly with your tax accountant or CPA to provide the reports and information they need for tax filing and planning, so you can have a stress-free tax season.
Add-Ons
These are additional services that can be added to your bookkeeping plan:
- Accounts Payable Management: If you receive bills such as contractor invoices for renovations or utility bills for individual properties, we’ll track them in QuickBooks Online to help you maintain strong vendor relationships, avoid late fees, and effectively manage your cash flow.
- Accounts Receivable Management: We’ll enter invoices, apply payments/rent received to those invoices, and monitor any outstanding invoices in QuickBooks Online to help you get paid on time and maximize cash flow.
- Payroll Assistance: We work with your third-party payroll processor by maintaining payroll data that you receive and enter timesheets for your employees so that they are paid on schedule.
- 1099 Preparation: If you work with multiple contractors, vendors, and service providers throughout the year, we handle your 1099 preparation and filing. We identify vendors and contractors who require 1099s, collect and verify W-9 forms, and prepare and file 1099s on time.
Clean-Ups / Catch-Ups
- Clean-Ups / Catch-Ups: If you are behind on your bookkeeping or find that you have errors that need to be cleaned up, we can check the accuracy of it for a requested date range and fix any errors and record missing transactions so that your books are up to date and done correctly.
Frequently Asked Questions
Our minimum starts at $300 per month but can vary depending on the number of transactions, properties, and add-ons that you choose. If you would like a specific quote, please send an email to david@bfwdbookkeeping.com
We respond to all inquiries within 24-48 hours. We understand how important timely communication is and don’t want you to feel uncertain about your bookkeeping inquiries.
We currently only use QuickBooks Online.
Send a message below or email david@bfwdbookkeeping.com to let us know that you’re interested. We will send a calendar link so you can schedule a discovery call and discuss your bookkeeping needs.
We do not at this time, but can recommend tax preparers based on your needs.
