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Posted by: Charles P Myrick CPA Posted on: Sep 06 2016 Posted in: small business, outsourcing accounting services

Why Real Estate Investors Should Improve Their Bookkeeping

As a real estate investor, bookkeeping is part of your daily life. You have to monitor the cash flow in, and make sure you’re managing your outflow in a profitable manner. For many investors, a paper bookkeeping system is the one they know and use. However, paper may be holding you back; for many, it’s past time to make the switch to an accounting software program. 

Why Switch From Paper to Software?

1. It Can Save You Time

Bookkeeping takes time. Sometimes, managing accounts takes a lot of time. As a real estate investor, you’re busy maintaining your different properties and making sure they are all functioning properly. Trying to manually handle all the bookkeeping can quickly become overwhelming. Accounting software can make your life a lot easier, because it allows you to input data quickly, it automates calculations, and it can automatically prepare statements or reports.

2. It’s Always Accurate

Additionally, accounting software mitigates many of the errors that can occur during the accounting process. Calculations are automatically carried out when you transfer funds, and the computer never makes a mistake. Since some accounting errors can carry legal ramifications, it’s crucial that your financial records are accurate.

3. Scaling is Easy

As your investments grow, the amount of accounting and the complexity of it grows as well. Accounting software makes scaling easy, however, because everything is contained in the program. You won’t have to worry about organizing a desk full of papers because all the financial information is only a button click away.

4. Accessibility is Great

Many of the accounting software solutions today are cloud-based, which means all the data is stored in an external server that can be accessed from anywhere. So, by switching to accounting software, you’ll no longer be tethered to your desk. You can access all the info you need at home, at work, or on the road.

A New Real Estate Accounting System

Your life will be easier if you upgrade to an accounting software package. You’ll save time, energy, and be able to rest knowing that all your financial information is accurate. Isn't it time to let go the aggravation of your paper accounting system? Your real estate investment business will thrive with the new system. 

Download Free Guide: 7 Things to Know  About Real Estate Accounting Software

 If you need help making the switch to real estate accounting software, or have any questions, feel free to contact Washington DC small business accounting firm, Charles P Myrick CPA.  (202) 789-8898. We specialize in helping small business owners and investors reach the perfect accounting solutions for them.