Real Estate Accounting Guide: Best Practices and Tips
basicsStruggling with real estate accounting? You're not alone!
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Key Points
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- 1
Track Income, Expenses for Profit
Real estate accounting helps you understand profitability and prepares you for taxes.
- 2
Choose Accounting Software Wisely
Prioritize real estate features, tax reports, and bank/card feeds in your software choice.
- 3
Cash or Accrual: Pick Wisely
Cash accounting is simpler, accrual gives a more accurate financial picture.
- 4
Chart of Accounts: Financial Filing System
Organize income and expenses for easy tracking and tax preparation.
- 5
Automate with Accounting Workflows
Build workflows to integrate receipts, mileage, and commissions into your system.
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