Bookkeeping Workflows

Here is the recording of our live session today: https://lnkd.in/gUDcB5NF In this session, we explored "Finding Your Perfect Fit: Exploring Bookkeeping Niches for Maximum Impact"—a guide for bookkeepers who haven't chosen their niche yet. Whether you're just starting out or looking to specialize, finding the right niche can make all the difference. 🌟 We covered: Why niching is important for growing your bookkeeping business. Popular bookkeeping niches like eCommerce, real estate, and more. How to choose the right niche based on your strengths and passions. Real-world examples of successful bookkeepers who found their niche. Tips on testing your niche before fully committing. Ready to stand out as a bookkeeper? Learn how to find the industry that resonates with you and make an impact! 💼📊 #Bookkeeping #FindYourNiche #Accounting #BookkeeperSuccess #SmallBusinessBookkeeping #eCommerceBookkeeping #RealEstateBookkeeping #Finance

This is my daughter, Anya. Very happy that we are buying her favorite fruits in the nearby store. This picture offers a delightful metaphor for real estate bookkeeping, particularly in organizing costs through a process called cost segregation. Just like how the fruit stand separates the different types of produce—lemons, garlic, onions—each item is carefully placed into its own container, so they can be easily found, understood, and priced accordingly. In real estate bookkeeping, this is much like cost segregation. We separate different components of a property—such as land, building structure, electrical systems, and landscaping—so we can assign each its appropriate cost. This organization helps property owners know how much value each part of their property holds, just like the vendor knows the price of each fruit or vegetable. The goal is clarity and efficiency, so you understand where your money is and how to maximize your investment. For example, by separating the costs of items that depreciate faster—like appliances or certain building improvements—you can lower tax burdens earlier, just as you would sell off ripe fruit at the right time before it loses value. In this way, both the fruit stand and real estate bookkeeping show how careful organization and timing lead to greater success. It's all about breaking things down into manageable parts, and seeing the beauty and potential in each, much like how we see potential in my daughter’s curiosity as she explores new experiences. #realestatebookkeeper #costsegregation #depreciation #realestateinvetor #realestate #bookkeeping #onlinebookkeeping

What expenditures are capitalized for a rental property business? In a rental property business, certain expenditures are considered capital and must be capitalized rather than expensed immediately. These are typically larger costs that improve the value or extend the life of the property. Common examples include the purchase price of the property, major renovations, roof replacements, or installing new windows or HVAC systems. These expenditures are not deducted in the year they are incurred but are added to the property's basis and depreciated over time. This helps spread the cost over the useful life of the improvement, aligning with how the asset benefits the business in the long run. For example, if you purchase a new heating system for $10,000 for a rental property, this cost will be capitalized. Instead of writing it off as an immediate expense, it will be depreciated over several years, based on the system's expected lifespan. On the other hand, smaller repairs like fixing a leaky faucet or patching up walls would typically be expensed immediately, as these don’t add significant value or extend the life of the property. By correctly identifying and capitalizing expenditures, you help maintain accurate financial records and align with tax rules, which ultimately supports the long-term financial health of your rental business. Please share your thoughts in the comment section. Let us have a live sharing session on this topic. #realestatebookkeeping #realestate #rentalproperty #bookkeeping #quickbooksonline #xero #onlinebookkeeping #realestateinvestor #taxseason2024

We had an inspiring discussion with Antonette Desalisa, an expert in DEXT and a dedicated mother to a toddler with special needs. Tanya works from home to balance her career and family, and her passion for both was clear in our conversation. Tanya demonstrated how DEXT can simplify receipt capture and categorization, making it a valuable tool for business owners and bookkeepers. By automating tedious tasks, DEXT helps users focus on what matters most in their businesses. Tanya's expertise in executive assistance and bookkeeping, combined with her commitment to her family, was truly inspiring. Her story showcases the potential of virtual work and technology to empower both professionals and parents. Tanya’s journey is a reminder that with the right tools and mindset, it's possible to thrive in both career and personal life. DEXT is also incredibly beneficial for real estate investors. Tracking expenses for multiple properties, including maintenance, repairs, and utilities, can be overwhelming. DEXT streamlines this process by automating receipt organization, helping real estate investors maintain accurate records for each property. This simplifies expense tracking, improves financial clarity, and ultimately saves time—key advantages for anyone managing real estate investments. The lesson here is simple: with the right tools, like DEXT, and a passionate mindset, balancing personal and professional responsibilities becomes much more achievable. Whether you’re a business owner, bookkeeper, or real estate investor, embracing automation and streamlining processes can free up valuable time, allowing you to focus on what truly matters. #BookkeepingSimplified #WorkingMom #Inspiration #OnlineBookkeeping #OnlineBookkeeper #DextPrepare #Quickbooks #Xero #realestatebookkeeping #realestateinvestor

Good morning to all my LinkedIn connections, I’d like to share the story behind why I chose to offer bookkeeping services for real estate investors. When I was in middle school, my mother ran a small canteen for construction workers. We had a makeshift store right inside the construction site, and I basically grew up there. Every time a project was completed, we would move to another job site and set up our canteen again. For many years, this is how my parents provided for our family and ensured we had what we needed, including an education. I’m incredibly proud and grateful for their hard work and love. Over time, I became familiar with the different stages of construction, from the foundation to the finished homes. We also built close relationships with the people on site—architects, engineers, foremen, carpenters, electricians, and many others. Without them, not only would our canteen have been empty, but more importantly, the houses would not have been completed. I’ve always admired the investors who dedicated their time, money, and passion to creating beautiful, sturdy homes for countless families. It takes vision and courage to invest in a project, knowing the challenges and risks involved. Real estate investors don’t just build houses—they create spaces where families can grow, memories can be made, and communities can thrive. Their commitment to bringing these homes to life, ensuring quality, and thinking of the long-term value they provide is truly inspiring. It’s not just about the profits; it’s about contributing to the growth and development of neighborhoods and making a lasting impact on the people who live in them. This experience shaped me deeply, and it’s why I feel a strong connection to real estate investors. They are the people I want to support and collaborate with in my work today. Thank you for reading. PS. I’m excited to share that my family is currently building our own home. After years of hard work, we’ve reached a major milestone—we’ve been able to put up a roof! It’s a beautiful spot nestled in the middle of a hill in our province, and we couldn’t be more grateful for this dream slowly coming to life. #realestatebookkeeper #onlinebookkeeper #realestateinvestor #bookkeeping #onlinebookkeeping #bookkeeping

Recording of last night's Real Estate Bookkeeping is now on Youtube. Feel free to watch, share and subscribe to get notified of future contents. https://lnkd.in/dyFSKbs9 #realestatebookkeeping #onlinebookkeeper #quickbooks #xero #bookkeeping

We hit 1K Subscribers on Youtube!!! Yey! Celebrate with us tomorrow. 8:00-9:00 PM Manila Time. Gratitude Webinar on Real Estate Bookkeeping. Zoom link in the comment section. #realestatebookkeeper #onlinebookkeeper #bookkeeping #realestate #contentcreator

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Last part of our Xero Shopify Bookkeeping Kindly subscribe if you found this helpful in your business https://lnkd.in/dPvYBsax #xerobookkeeper #shopifybookkeeper #onlinebookkeeper