Structurally how do you set up your accounting or your financial model? In my business we have four primary accounts. I’m going to go through each one of them.
Operating Account
We have a primary operating account. That is where the rent money comes in and the bills and expenses are paid from. That is your fairly traditional checking account statement. We try to reconcile that account at least once a week, if not two or three times. Early in the month when all the rents are coming in we reconcile that a lot. Continue reading ‘Residential Property Management – How to Set Up Your Cash Management System’ »