Insightful tip.
Keeping Track of Everything.. HELP!
- Thread starter jmillar
- Start date
Insightful tip.
Spreadsheet (found on Somersoft) with sheets for each property, and summary at the front. Enter expenses etc as they occur.
Upload all documentation to Google Drive (electronic plus scans/photos of hard copies), with searchable file names and organised in appropriate folders.
Keep whatever MUST exist in hard copy in tabbed folder, matching Google Drive folders.
Upload all documentation to Google Drive (electronic plus scans/photos of hard copies), with searchable file names and organised in appropriate folders.
Keep whatever MUST exist in hard copy in tabbed folder, matching Google Drive folders.
Hard copies of documents
Hi
I've just seen this thread.
It was and still is my understanding that the ATO accepts electronic copies of documents in connection with tax returns.
May I ask why some of you are keeping hard (meaning paper) copies of the monthly statements instead of scanning them into your computer. Has something changed recently?
I get all my monthly statements sent to me electronically. My tax advisor in Sydney has a dedicated secure site where I can send all documents related to my IPs during and at the end of the financial year via computer.
I scan my emailed docs into files on my computer and back these up with an external drive every so often so I don't lose anything.
If you don't have a scanner then I would suggest you get one as this will save you being drowned in paper years down the track.
Ciao
annE
Hi
I've just seen this thread.
It was and still is my understanding that the ATO accepts electronic copies of documents in connection with tax returns.
May I ask why some of you are keeping hard (meaning paper) copies of the monthly statements instead of scanning them into your computer. Has something changed recently?
I get all my monthly statements sent to me electronically. My tax advisor in Sydney has a dedicated secure site where I can send all documents related to my IPs during and at the end of the financial year via computer.
I scan my emailed docs into files on my computer and back these up with an external drive every so often so I don't lose anything.
If you don't have a scanner then I would suggest you get one as this will save you being drowned in paper years down the track.
Ciao
annE
Try.................http://www.cashflow-manager.com.au/Products/RentManager.aspx
Coupled with the EOFY statement its quick,simple &easy to use.Back up to a USB for the accountant,or email him the file.
Coupled with the EOFY statement its quick,simple &easy to use.Back up to a USB for the accountant,or email him the file.
The "shoe box" drive is excellent. Hard copy everything! Don't worry about the tree huggers. No virus is gonna eat through cardboard and corrupt your written data lol. No foreign geek is gonna snoop inside a box and have a squiz at what you got either lol. Sleep easy, clouds are for storing water droplets.
I think the dementia is setting in datto
Have you seen a quack about it? They reckon you can leave post-it notes around the house to help remember things eg "bathroom door"
Yup - Gmail, they are linked. I moved a few mail accounts, including all the old emails, to gmail a few years ago. Very easy to manage and, of course, search.
You can also selectively share Google drive folders and/or Docs with a chosen few. Ditto for Dropbox etc.
OK, fair enough. But you'd be surprised how practical and inexpensive it is to keep hard copy records in a box. I don't think you need all those gadgets unless you have about 50 properties.
When you think about each property only has about a dozen sheets of paper (rates, water, body corp/insurance, repair invoices, an A4 sheet detailing calls made, travel etc, a depreciation schedule).
When you think about each property only has about a dozen sheets of paper (rates, water, body corp/insurance, repair invoices, an A4 sheet detailing calls made, travel etc, a depreciation schedule).
I am a gmail, google drive and dropbox user. For reminders and other notes I have a google calendar setup specifically for IP's
Have relevant folders set up in my gmail account to which the emails can be moved to. This shows me the status of emails in each relevant folder (read/not read).
I also find it userful to add reminder notes about things to look at/research in my google calendar which I can glance. i,e web reference, seminars
I also have a folder where all hard copies are filed away in order
Have relevant folders set up in my gmail account to which the emails can be moved to. This shows me the status of emails in each relevant folder (read/not read).
I also find it userful to add reminder notes about things to look at/research in my google calendar which I can glance. i,e web reference, seminars
I also have a folder where all hard copies are filed away in order
As an accountant involved with property you need something that can retain simple data such as CGT record data, expenses, income etc for each IP. For paperwork there isn't anything better than scanning. PDFs. Any $50 printer does it and only costs $ when you use the expensive ink. If its a scanner then there is no cost.
I have attached a spreadsheet you might consider. PM me and I can unlock it and you can modify away.
There you go...free.
I have attached a spreadsheet you might consider. PM me and I can unlock it and you can modify away.
There you go...free.
try Camscanner instead of taking photo
Just to add my two cents worth...
Instead of taking a photo (which is jpg file) and can be inconvenient to view, i have the Camscanner app... which allows me to 'scan' by taking a photo - you take the photo, it asks if you want to crop, it cleans up the colours (lighter/darker) and turns it into a pdf... very handy for receipts.
Just to add my two cents worth...
Instead of taking a photo (which is jpg file) and can be inconvenient to view, i have the Camscanner app... which allows me to 'scan' by taking a photo - you take the photo, it asks if you want to crop, it cleans up the colours (lighter/darker) and turns it into a pdf... very handy for receipts.
Gold, must try this
Use Fast Scanner at work, send to Gmail which runs a script to move it into Google Drive, It can also OCR for searching, but isn't as good as some pro ones.
Very Very handy having access to receipts/plans etc from Mobile phone
Also use Excel Spreadsheet I pilfered off the net and modified.
There are also a number of Bill Minder Apps/Websites that can take care of bill minding.
